L&G Mortgage Club announces COVID-19 measures
Legal & General Mortgage Club has announced measures in light of COVID-19.
The firm has said procuration fees will still be paid on exchange and ahead of completion, which it outlines is in order to help ease any financial pressures and remove exposure to any potential volatility around completion dates.
It adds that advisers that are a member of the free ClubHub system will also still be able to claim their proc fees online.
In addition, the Mortgage Support Services team will also remain on hand to help advisers with any queries they have on client cases over the phone or via the Live Chat tool.
Furthermore, in line with government guidance, all remaining Spring Roadshows in March have been cancelled to assist with efforts to prevent the continued spread of coronavirus.
Looking to the club’s field-based relationship managers, face-to-face meetings will only take place when absolutely necessary and where all parties are symptom free, not self-isolating and happy to go ahead, the firm said.
Kevin Roberts, director at Legal & General Mortgage Club, said: “These are clearly unprecedented times and I want to take the opportunity to reach out to our members about what Legal & General Mortgage Club is doing to help keep advisers’ businesses running as smoothly as possible.
“We have invested heavily in technology in recent years and this means we are well placed to continue to operate a business as usual approach in many cases.
“Advisers will still find they are easily able to contact our Mortgage Support Services team and use systems like SmatrCriteria and ClubHub to help with their clients’ mortgage applications and the payment of proc fees.
“At the same time, we are supporting the efforts to tackle the spread of coronavirus in our society and that is why we have taken the decision to cancel our March Spring Roadshows.
“I am confident that the mortgage market will remain resilient and I want to reassure members that as one of the oldest mortgage clubs in the UK and a wider business that has 100 years of sustainability under its belt, we are here to stay and will continue to do what we can to support you in these challenging times.”