The Lending Wizard is Legal & General’s preferred partner for secured and unsecured loans and as such L&G Mortgage Club members can now access a total of three prime unsecured lenders with APRs starting from 5.1%, 8.6% and 9.9% respectively.
Gareth Broome, business development manager at The Lending Wizard, said: “The intermediary market is very limited when it comes to sourcing unsecured loans since the majority of master brokers are only able to offer mid or sub-prime rates which simply aren’t a viable option for a whole-of-market adviser.
“We greatly value our relationship with Legal & General and the quality of business members of its Mortgage Club deliver and that’s why we wanted to go the extra mile to extend these exclusive benefits to the broker network.”
The Lending Wizard is also increasing the frequency of its commission runs from monthly to weekly for Legal & General.
Legal & General Mortgage Club members already have access to The Lending Wizard’s ‘soft quotation’ credit search facility which allows brokers to search for secured loans without negatively impacting on their customers’ credit scores.
Ben Thompson, managing director, Legal & General Mortgage Club, said: “Loans continue to be an important part of an individual’s financial planning, arguably more so nowadays with various institutions reining back their new lending.
“Legal & General Mortgage Club is therefore pleased to expand the choice of loan products via The Lending Wizard as this will only help Club members to secure best possible borrowing terms for their clients.
“Additionally, commission from The Lending Wizard will now be paid weekly which is very much in line with Club members’ requirement to be paid quickly, not just for mortgages but also for other Club related services.”