Legal & General Mortgage Club has reported growth of 15% in sales for 2015 with £46 billion of sales.
This means that the Club is now involved in one in five of all UK mortgage transactions.
Nigel Wilson, Legal & General Group CEO, said: “The £46 billion of mortgage sales is an outstanding result for my colleagues in Legal & General’s Mortgage Club. Mortgages are one of the many ways we are helping to house our customers.
“At Legal & General we are investing to create new assets in many areas including housing and urban regeneration. We recently announced our £600m partnership with PGGM to build 3000 private rented homes, are putting £400m into Cardiff to help regenerate the city and deliver 10,000 jobs, and have invested £1.5 billion in over 17,000 student flats across the UK.
“Unless we invest in the new, we risk moving into a world of zero’s, including zero wage growth, productivity and inflation. This is not the outcome we want for the UK.”
Stephen Smith, Legal & General’s director of housing partnerships, added: “2015 was another record year for the Club. This shows our commitment to grow and extend our reach in all parts of the UK housing market. The intermediary mortgage lending market delivered exceptional growth in 2015. Intermediaries and brokers have a unique understanding of the market and can offer a broader and better range of products than are available on the High Street, which is great news for customers.”
