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Added: 6 May 2015

Ipswich Building Society joins Legal & General's Mortgage Club

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Ipswich Building Society has announced it is now part of the Legal & General Mortgage Club, widening its reach to the broker market and signifying its return to lending following the completion of a two year IT transformation project.

Legal & General is one of the world's largest insurance and investment management groups, with 10 million customers worldwide. Established in 1995, the Mortgage Club was the first of its kind in the UK and now has a 30 per cent share of the intermediary market.
Legal & General's Mortgage Club brokers will now be able to access Ipswich Building Society's expert and manual approach to underwriting which enables it to handle more complex cases, particularly around mortgage misfits such as older borrowers, the self-employed and self-builders.

Jeremy Duncombe, Director, Legal & General Mortgage Club, said, "As part of an exclusive agreement with Legal & General, Ipswich will accept applications from brokers across England and Wales as opposed to their normal local catchment area. At Legal & General Mortgage Club we are always looking to add value for our brokers. Ipswich offer innovative products and individual underwriting for several groups of borrowers who are underserved by the market at the moment including transitional borrowers, first time buyers and older borrowers."

Michelle Stevens, Head of Mortgage Sales, said "We're looking forward to working with Legal & General's extensive network of brokers to help them meet the needs of their clients. Our host of underwriters and mortgage specialists will work with each broker to help them handle every case from the straightforward to those that are more complex. We pride ourselves on taking a sensible approach to understanding people's responsibilities and take all forms of income into account when assessing affordability."

Paul Winter, CEO of Ipswich Building Society, said "Legal & General's Mortgage Club is the longest running and largest club of its kind in the UK, therefore our partnership will increase Ipswich Building Society's reach into the broker market. This is a significant step for us on our return to lending now that our extensive IT transformation has been completed."