Legal & General – UK Mortgage Lender
The original forerunner of Legal and General was founded in 1836, by six lawyers, in a London coffee shop, under the name New Law Life Assurance Society. Originally, it only marketed life assurance policies to the legal profession, but when it started to offer policies to the general public it changed its name to the Legal and General Life Assurance Society. Nowadays, the company markets a full range of financial services.
Legal and General doesn’t market mortgages in its own right.
However, it does provide mortgage life insurance policies. These include Mortgage Level Term Assurance policies for terms of between one and forty years and Mortgage Decreasing Term Assurance policies for terms of between five and forty years, depending on the age of the borrower when the mortgage is first taken on. The company also offers terminal illness cover and house moving day insurance.
Although Legal and General does not offer its own mortgages it is one of the most trusted names when it comes to providing the back up services for the true mortgage providers. One of the options includes a property ISA which allows investors to put in regular amounts to a fund that will then be invested across a range of commercial properties.
There are also a range of options in terms of investments such as pension schemes and life insurance that can be used to supplement any type of mortgage.