The Mortgage Club was the first of its kind established in the UK in 1995 and currently holds a 26% market share of intermediated mortgage lending in the UK.
Ben Thompson, Managing Director, Legal & General Mortgage Club says:
"In a year that saw little growth in gross lending, this is a very strong increase and reflects a number of deliberate strategic objectives, one of which was to align with strong, loyal and successful mortgage intermediary firms. As always we recognise that it is our Club members that have recorded this growth and it is their hard work, sheer determination and application that deliver our success.”
Thompson continues:
“The figures are particularly strong when you consider the adverse market conditions over the last five years. Despite this unprecedented adversity our members have helped us to post consistently strong results. The good news is that it does look as though 2013 should be a little better for the market as a whole and therefore for our members. The overall gross lending market is forecast to grow by the CML and also it is likely that intermediaries will command a slightly greater share of new lending as well. If this is the case, this will be a just reward for those that have worked so hard through such a difficult and significant market downturn. We have new and strong plans for 2013 and beyond that will reward our loyal member base and we hope to build on our continued success.”
