Legal & General Mortgage Club has reported that its completions for 2019 totalled £78bn.
The annual figure is the highest in the club’s 25-year history.
It represents a 7% rise in business volumes on 2018. This figure includes product transfers; however, underlying growth still topped 4%, showing that the club’s members supported market growth beyond UK Finance’s 1.1% figure for the wider mortgage market.
Kevin Roberts, director of Legal & General Mortgage Club, said: “This has clearly been a positive year for advisers who have supported growth in the mortgage market throughout 2019. The intermediary mortgage market has continued to grow over the past 12 months and, amidst all the uncertainty of last year, advisers have continued to help thousands of borrowers whether they are buying or remortgaging.
“Our commitment at Legal & General Mortgage Club has been to invest heavily in our members with the launch of tools like SmartrCriteria and SmartrRefer that give them the means to help even more of their clients with their housing plans. It’s great to see that our members are making the most of these services to evolve and grow their businesses, which has clearly been reflected in fact that advisers using the club have supported growth far beyond the wider mortgage market.
“Adding value to our members as well as raising awareness about the importance of advice is central to our objectives as a mortgage club and over the next year, we’ll be launching further initiatives, continually improving and evolving our proposition to help our adviser members deliver a truly holistic offering.”
