L&G mortgage activity up 20pc

Robyn Hall

March 6, 2013

The club currently holds a 26% market share of intermediated mortgage lending in the UK

Ben Thompson, managing director, Legal & General Mortgage Club, said: “In a year that saw little growth in gross lending this is a very strong increase.

“The figures are particularly strong when you consider the adverse market conditions over the last five years.

“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.

Thompson added that he believes 2013 could also see intermediaries gain a slightly greater share in the new lending market.

He said: “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.

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