Launched as an exclusive via the L&G Mortgage Club, this product is targeted at those borrowers who can afford this loan size but are not served well by the automated decision making process of the high street lenders.
Tim Vigeon, Head of Lending said: “With many lenders restricting loans to £750k or below, I felt that there are a number of borrowers who are not able to borrow the amount they require to purchase their dream home, particularly in the South East.” Tim continues “We have found that by working with Legal & General we are able to market our products throughout England and Wales with firms who specialise in the large loan market. This product is aimed at providing a means for those with sizeable but complex incomes (including bonuses and overtime) or with a less than perfect record to access the large loan market. Our lending is based on an individual assessment of the case based on affordability and looking at the circumstances behind the case; we do not credit score and can exceed income multiples providing the case meets our affordability and stress test assessment.”
