Europe's biggest independently owned estate agency group Spicerhaart has picked Legal & General to handle its mortgage protection business.
Spicerhaart signed the long-term deal with L&G after entering into a short-term arrangement with the insurer in March following Britannic Assurance's withdrawal from the market.
Spicerhaart operates 250 branches of Haart, Spicer McColl, Felicity J Lord, Darlows and Bailys. It will use L&G's Launchpad e-commerce technology for mortgage consultants to process business online. Launchpad allows intermediaries to track the progress of cases online and can give acceptance of mortgage offers in principle in 60 seconds from most lenders.
L&G managing director, retail distribution Duncan Crocker says: “We are delighted to have been invited to extend our relationship with Spicerhaart. Legal & General is now involved in one in every 10 mortgage transactions in the UK so this alliance with the UK's largest independent estate agency network is a natural partnership.”
Spicerhaart chief executive Paul Smith says: “We have chosen to partner with L&G because of its reputation, management team and overall strength in the industry in the UK.”