John Charcol has signed a sole-tie distribution agreement with Legal and General (L&G) and will be providing mortgage payment protection insurance (MPPI) and other protection products.
Legal and General says the agreement will enable it to significantly increase the distribution of its protection products. John Charcol is one of Britain’s largest mortgage brokerages, but has been affected by the downturn in the housing and mortgage markets . Duncan Crocker, managing director of intermediary distribution at L&G, says the threat of a recession is likely to result in an increase in demand for protection from consumers.
Mr Crocker said: "The credit crunch has also made people focus on what they have got to lose, so protection can help provide valuable peace of mind. Of course, it also means improved revenue streams for the adviser, if they can sell protection alongside a mortgage ."
John Charcol hopes the agreement will provide better protection for its clients and is working with L&G’s mortgage club to develop new products in both the insurance and mortgage sectors.
John Charcol agrees to protection deal with Legal & General
Financial Services > Income lnsurance > News
John Charcol agrees to protection deal with Legal & General
Thu, 25 Sep 2008
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