Legal & General's Mortgage Club is offering a Self-Certification mortgage at 1.75% above Bank of E...
Legal & General's Mortgage Club is offering a Self-Certification mortgage at 1.75% above Bank of England Base Rate that is discounted by 1.66% for the first two years.
Borrowers will pay interest currently at 4.09% (APR 5.8% variable). At the end of the two years the interest rate continues to track Bank of England Base Rate plus 1.75%.
The deal is described as a 'true' self-certification home loan available to self employed and employed customers. Applicants are required to state their income on the mortgage application form, but no phone calls are made to accountants or employers.
Mortgages are available up to 85% of the value of the property and may be used for purchase and remortgages. There are no overhanging redemption charges.
During the first two years an early redemption charge of 5% of the amount repaid during the first 12 months and 4% in the next 12 months will apply.
Advisers can obtain details of the mortgage and enquire about membership of Legal & General's Mortgage Club by calling 0845 3009977.
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