Legal & General delivers £620m in lifetime mortgage completions

Jessica Nangle

March 13, 2017

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Legal & General has announced it has generated more than £600m in lifetime mortgage completions and achieved an overall market share of 29% in 2016.

These results bring the total value of lifetime mortgage assets under management to the group to £1bn since its entry into the retirement lending market in 2015.

Steve Ellis, managing director at Legal & General Home Finance, said: “From standing start to total lending of over £1bn in less than two years is a great achievement.

Lifetime mortgages now fastest growing part of the market

“Everyone involved with Legal & General Home Finance has worked tirelessly with customers and advisers as we’ve built our business, but this is just the start of our journey.

“There are, undoubtedly, exciting times ahead for both Legal & General and the broader later life lending market in the UK.”

By the end of 2016, the group generated £236m in new business which equated to a market share of 35% in the quarter.

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