Borrowers taking out a mortgage direct with Birmingham Midshires will soon be offered mortgage insurance products provided by Legal & General.
Subject to contract and regulatory approval, the new partnership will take effect from spring 2004. Products on offer will include life assurance, household insurance and accident, sickness and unemployment cover.
Legal & General's technology solution, On-line Term Assurance, will enable details to be taken over the phone and in many case confirm acceptance on the spot.
Legal & General's director of UK Operations Robin Phipps says: “Not only can we provide market leading, value for money mortgage insurance policies but we've also worked hard to develop telephone and web-based technologies that make the process quick and simple for customers. We are delighted to be working with Birmingham Midshires as it continue its impressive growth as a key business division within HBOS.”
Birmingham Midshires managing director Dan Watkins says: “This agreement will enable us to focus on our very successful core mortgage and savings business, whilst giving our customers access to a wide range of competitive insurance products. Legal & General's internet and telephone technology will ensure that our customers receive an efficient and reliable service”.