Legal & General Mortgage Club has launched two new fixed rate products, provided by Newcastle Building Society.
The loans include a two-year fixed rate at 6.25 per cent APR up to 90 per cent LTV with a three per cent early repayment charge, a GBP 195 reservation fee and GBP 499 completion fee.
A five-year fixed rate at 5.39 per cent APR up to 80 per cent LTV, a three per cent early repayment charge and a GBP 195 reservation fee and GBP 800 completion fee.
Martyn Smith, head of mortgage products at Legal & General said: “The higher LTV market is coming back and these are good examples of competitive rates at those levels. The two year rate is closing the gap on tracker products at 90 per cent and the five year deal is very keenly priced for those looking for a stability of mortgage payments over a longer period.”
Steven Marks, intermediary services executive at NBS, said: “We are pleased to progress our relationship with L&G further with these two competitive fixed rate products. The Newcastle is keen to support homeowners with attractive offers and we’re confident these products will prove to be popular to the mortgage club and its customers.”
Comments