L&G launches 80% LTV exclusives with Newcastle
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Legal & General Mortgage Club has added Newcastle Building Society to its panel of lenders and is launching a range of semi-exclusive mortgages, all with a maximum loan-to-value of 80%
Legal & General has provided Newcastle Building Society with exclusive household, mortgage payment protection and travel insurance cover since June 2007.
The new mortgages include a two-year fixed rate at 3.65% with 3% early repayment charge or 4.50% with no early repayment charge. Along with a two-year discount at 2.89% (SVR minus 3.10%) with 3% early repayment charge or 3.79% (SVR minus 2.20%) with no early repayment charge.
Along with a two-year tracker at 2.49% (BBR plus 1.99%) with 3% early repayment charge or 3.55% (BBR plus 3.05%) with no early repayment charge.
Martyn Smith, head of mortgage products at Legal & General, says: “The higher LTV market is coming back and these are good examples of competitive rates at those levels. We welcome Newcastle Building Society to our panel and look forward to a mutually beneficial partnership with more exclusive products to come.”
Steven Marks, intermediary sales executive at NBS, says:“The Newcastle is already a key partner of L&G through its general insurance arrangements so we’re very pleased this relationship has been extended to the Mortgage Club.
“We are strongly committed to growing our mortgage business through intermediaries. Our relationship with L&G will, without question, be one of our most important ones and I’m confident we can enhance the proposition of the club’s members through our range of products.”
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