Legal & General has confirmed that another 10 UK mortgage lenders have now been added to its SmartrFit solution, which is used by advisors to search for mortgage products.
This is a free solution and any mortgage advisor can get access to it, either via their Legal & General agency number or through a connected outside firm such as One Mortgage System or SimplyBiz Mortgages. The addition of 10 further lenders takes the total number whose products are featured on SmartrFit to 73.
Using the solution, advisors are able to search for products, affordability and criteria on behalf of a client, with this applying to both buy-to-let and residential loans.
Among the latest companies to sign up for the solution are Newcastle for Intermediaries, Newbury Building Society and Teachers for Intermediaries. Buy-to-let loans offered by Quantum Mortgages, Darlington Building Society and Mansfield Building Society will also now show up during advisor product searches.
Legal & General Lender Relationships Head Danny Belton told Financial Reporter that advisors and the general public would now have a wider selection of products to choose from. Then he added:
“By integrating more bespoke mortgage lenders that specialise in residential and buy-to-let markets, we are pleased to enable access to a broader range of providers which may prove particularly useful for landlords with specific borrowing needs.”
As wide a range of mortgage products as possible is essential for both advisors with CeMAP training and the customers that they represent, with high street rates going up sharply at the moment.