Legal and General (L&G) claimed a 25 per cent share of the UK mortgage market last year, marking a 20 per cent rise from 2011.
This is according to the group’s preliminary results, which were published yesterday (March 6th) and showed the firm facilitated lending of £18.86 billion in 2012 between both its mortgage club and network.
It was also responsible for one in eight mortgages in the country, confirming its position as the number one provider of intermediated mortgages.
Group chief executive Nigel Wilson said L&G’s double-digit sales growth demonstrates customers value its insurance, savings and investment propositions, while it also shows its expertise, synergies and scale provide solutions to challenges posed by falling state spending on welfare and investment opportunities.
“Our financial strength enables us to continue to deliver strong organic growth, complemented by bolt-on acquisitions, where they can meet our rigorous financial and strategic criteria,” he added.
This comes after the business’ Appointed Representative Network partnered with Saffron Building Society to launch mortgage products designed for ‘everyday situations’ and self-employed homebuyers unable to provide three years trading accounts.
