L&G offers loan service

This allows advisers to search a whole of market panel for unsecured and secured personal loans that cover any customer need, preference and risk profile. It allows customers to ascertain the actual APR that they would pay before making an application thus protecting their credit profile, and also offers an instant decision-in-principle.

Ben Thompson, director, mortgages at Legal & General said: “With personal loans becoming harder to come by, some customers are finding that the advertised APR rates aren’t always the rates offered on application. People are becoming disillusioned and turning to financial advisers for help. Through our service, advisers will be able to search and compare actual loan rates before an application is made, saving their customers’ time and protecting their credit rating. Plus, it’s a new revenue stream for advisers and we are offering some of the best commission rates in the broker market.”

This service is only available via the Legal & General Mortgage Club and European Financial Solutions.