Legal & General Mortgage Club has signed a deal with My Home Move so L&G brokers can earn from referring Help to Buy clients to the conveyancer.
Brokers can submit Help to Buy remortgagors through My Home Move’s ‘Introducer-eWay’ portal and monitor their conveyancing online – while they will earn £100 for every client recommended.
Craig Hall, new build manager of Legal & General Mortgage Club, said: “We are delighted to be partnering with My Home Move on this new service developed with customers, brokers and lenders in mind.
“It is great that My Home Move has been able to provide a simple solution for the growing number of Help-to-Buy homeowners looking to remortgage.”
Mark Snape, corporate distribution director of My Home Move, said: “We’re very proud to be working with Legal & Mortgage Club and we value them as a key strategic partner.
“There are around 100,000 Help-to-Buy homeowners that we estimate will need to remortgage their property in the next five years and we felt there was a huge gap in the market.
“We have worked with third parties including Target and the Home and Communities Agency’s (HCA) appointed administrator to create this simple and unique proposition; as well as new build specialist brokers who not only understand the process but were able to feed in the difficulties borrowers were having and this included the fees charged by lawyers who were not familiar with the process and requirements.
“We hope homeowners benefit from this initiative and can remortgage efficiently and smoothly.”