The brokerage is hoping its latest round of recruitment will see another 10 to 12 advisers joining the academy. This comes after a recent intake of 12 in January and will take the total sales force to over 170.
L&C says the existing brokers signing up to the academy will take part in an intensive induction programme to help reassure them that there is still money to be made as a directly authorised mortgage broker.
L&C technical manager Richard Morea says in the past almost all of L&C Academy entrants were graduates but now the brokerage is looking for existing brokers who have recently been made redundant.
Morea says: “Given the current climate and given the high level of redundancies, there are a lot of good brokers out there. We want to bring them in and assure of the safety that the L&C umbrella brings.”
L&C says it assures new brokers that its capital strength and its relative aversion to specialist mortgages in the past has made it a strong brand that remains profitable.
Morea adds: “We are very confident that L&C will still be around after the downturn so we are trying to get that across to potential academy entrants.”