L&G becomes biggest lifetime mortgage provider in H1

Total lending for Legal & General’s lifetime mortgage lending arm hit £424.3 million for H1, following on from record growth in 2016 when the company achieved over £620m in sales.

The figures come amid a fast-growing equity release market, which recorded Q2 growth of 36%.

Steve Ellis, Managing Director at Legal & General Home Finance, said: “Legal & General has always set out to lead this market and help more people to understand the positive role property wealth can play in retirement.

“Today’s results show that we continue to go from strength to strength, meeting the rising demand from consumers who increasingly want to access the equity stored in their home to fund retirement.
 
“I am immensely proud of the work the team at Legal & General Home Finance has done to put us in this position, but as a lender that has a responsibility to this market there is of course more we can do. For our adviser partners and our customers, innovation, distribution and flexibility remain key to our growth mission and the story has only just begun.”