Legal & General Mortgage Club has added an exclusive two-year tracker to its range at 0.94% over base rate, giving a current rate of 5.94%.
The mortgage is funded by Halifax and can lend up to 80% LTV for both purchase and remortgage customers.
The loan charges an arrangement fee of £999, which can be added to the loan, and offers free valuation and legal fees for remortgage borrowers.
Martyn Smith, head of mortgages at Legal & General, says: “We expect [the mortgage] to be very popular, especially with people remortgaging who do not want to tie themselves in to a high fixed rate.
“Whilst some borrowers may adopt a wait-and-see approach by sitting on their lender’s SVR, this tracker represents an attractive alternative.”
If you would like to comment on this story, contact:
Tel: 020 7484 9805
e-mail: [email protected]
Our weekly heads-up for advisers
'Nothing can prevent scammers developing workarounds'
Stalwart Scottish Mortgage takes third place
Consistency and compliance vs. slower reaction time
Search for replacement to begin imminently