Legal & General Mortgage Club has added Canada Life and Just to its its lender panel.
The addition of the two later life brands brings the total number of lenders on Legal & General Mortgage Club’s panel to more than 90.
Through Just, panel members can access lifetime mortgage products which provide an option to pay some or all of the monthly interest, helping borrowers manage the overall cost of the loan amount.
Using specialist underwriting capabilities, customers also have the potential to borrow more based on their medical and lifestyle conditions.
Canada Life’s retirement proposition will provide Mortgage Club members with options including lifetime mortgages that can be secured on a customer’s main residence or second home.
Canada Life also provides solutions where borrowers can choose to make interest payments, service the capital and interest, or simply let the interest roll-up.
Paul Hopton, key relationship manager at Legal & General Mortgage Club, said: “We are delighted to announce that Canada Life and Just are the latest companies to join our lender panel.
“Both lenders play a major role in the later life market and their addition to our proposition brings even greater choice to advisers using Legal & General Mortgage Club.
“We look forward to working together with Just and Canada Life as we continue to develop our Later Life proposition in support of advisers across the UK.”
Les Pick, head of sales, home finance at Canada Life, said: “We’re thrilled to join Legal & General Mortgage Club’s panel and support the club members and their customers.
“At Canada Life, we’re committed to growing the equity release market and demystifying the product set.
“As increasing numbers of homeowners recognise the important role property wealth can play in retirement planning, it’s more important than ever to work closely with advisers to ensure that they are suitably equipped to help meet customers individual needs.
“We look forward to working with Legal & General Mortgage Club to help achieve this.”
Jonathan McCaffrey, specialist account director at Just, said: “We are delighted to join the L&G mortgage club panel.
“Despite the restrictions the last few months have brought, Just has remained fully operational.
“We’ve continued to offer full support for advisers and their clients with dedicated account support and even though the industry has faced strong headwinds we’ve demonstrated our agility to adapt and innovate.
“We look forward to supporting advisers throughout 2020 and beyond by delivering even more improvements in how we help advisers meet their clients’ needs.”