The deals are available now through Legal & General ARs, The Mortgage Advice Bureau and Legal & General Nouveau members.
The new deals are available to customers with LTVs of between 70% and 80% to encourage those who are on SVR’s to look at switching to a more competitive deal.
The five year fixes include a 70% LTV starting at 2.39%, and a 80% LTV starting from 2.85%.
To support potential re-mortgagers the deals will also include free valuation and free legal work. The range will also include £300 cashback for purchase customers on 80% LTVs.
Jeremy Duncombe, Director, Legal & General Mortgage Club, said:
“The re-mortgage market is an area we are very keen to support. Now is a great time for customers to be looking for a new deal so they can lock in a competitive mortgage ahead of when interest rates start to rise. I am also pleased that this range is available through intermediaries as the advice and knowledge that brokers can offer to consumers is vital to ensuring they get the mortgage deal that is right for them.”
Peter Rogerson, Commercial Director for Mortgages at Virgin Money, said:
“At Virgin Money, we share L&G’s view that there is a real opportunity for borrowers to save money by remortgaging. We are pleased to support L&G by offering new and attractive products at 70% and 80% LTV, which we believe will be well-suited to many remortgage customers. A lot of borrowers are keen to lock in the low interest rates that are currently available for longer, so these new 5 year products are a really attractive option for them.”
