Legal & General Mortgage Club has announced Canada Life and Just as the latest lenders to join its panel.

The addition of the two later life brands takes the total number of lenders on L&G Mortgage Club’s panel over 90.

The mortgage club suggested that both Canada Life and Just will bring a wide array of later life solutions for its members and their customers.

“We are delighted to announce that Canada Life and Just are the latest companies to join our lender panel,” L&G Mortgage Club key relationship manager, Paul Hopton, commented. “Both lenders play a major role in the later life market and their addition to our proposition brings even greater choice to advisers using L&G Mortgage Club.

“We look forward to working together with Just and Canada Life as we continue to develop our Later Life proposition in support of advisers across the UK.”

Through Just’s proposition, L&G Mortgage Club revealed its panel members can access lifetime mortgage products for their clients which provide an option to pay some or all of the monthly interest, to help borrowers manage the overall cost of the loan amount.

Using specialist underwriting capabilities, customers will also have the potential to borrow more based on their medical and lifestyle conditions.

Just specialist account director, Jonathan McCaffrey, said: “We are delighted to join the L&G Mortgage Club panel. Despite the restrictions the last few months have brought, Just has remained fully operational.

“We’ve continued to offer full support for advisers and their clients with dedicated account support and even though the industry has faced strong headwinds we’ve demonstrated our agility to adapt and innovate. We look forward to supporting advisers throughout 2020 and beyond by delivering even more improvements in how we help advisers meet their clients’ needs.”

The mortgage club also suggested that Canada Life’s retirement proposition has been designed to suit a range of retirement needs, and that club members will have options, including lifetime mortgages, that can be secured on a customer’s main residence or second home.

Canada Life’s offering also provides solutions where borrowers can choose to make interest payments, service the capital and interest, or choose to let the interest roll-up.

“We’re thrilled to join L&G Mortgage Club’s panel and support the club members and their customers,” Canada Life head of sales home finance, Les Pick, added. “At Canada Life, we’re committed to growing the equity release market and demystifying the product set.

“As increasing numbers of homeowners recognise the important role property wealth can play in retirement planning, it’s more important than ever to work closely with advisers to ensure that they are suitably equipped to help meet customers individual needs. We look forward to working with L&G Mortgage Club to help achieve this.”

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