L&G launches exclusive base rate tracker mortgage

Legal & General Mortgage Club has today announced an exclusive 3 year base rate tracker mortgage with Leeds Building Society.

Related topics:  Mortgages
Amy Loddington
16th October 2013
Mortgages

The mortgage, which is available through Legal & General Mortgage Club ARs and Nouveau firms only, is available at Base Rate (currently 0.5%) + 2.15%, on loans up to 80% LTV.

The product represents excellent value, with no early repayment charges and unlimited capital repayments. There is a competitive £199 booking fee plus £800 completion fee on loans up to £500,000 with a 1% completion fee payable on loans over £500,000. Borrowers will benefit from a free standard valuation up to £335, and free standard in-house legal service for re-mortgages.


Martyn Smith, head of mortgage products, Legal & General Network, says:

“In a market dominated by fixed rates, this 3 year tracker has been priced very keenly and is market leading for a product that has no early repayment charges. The additional product incentives make this Legal & General exclusive ideal for both purchase and re-mortgage customers expecting base rate to remain flat, yet seek built in flexibility should things change”.

Martin Richardson, General Manager Business Development at Leeds Building Society, says:

“We are pleased that we can, through our strong relationship with Legal & General Mortgage Club, launch a market leading tracker that delivers good value combined with flexibility, and offers an excellent alternative to the fixed rates that are widely available.”

More like this
Latest from Property Reporter
Latest from Protection Reporter
CLOSE
Subscribe
to our newsletter

Join a community of over 30,000 intermediaries and keep up-to-date with industry news and upcoming events via our newsletter.