London & Country launches fixed rate product

London & Country, the no-fee mortgage broker, has launched a fixed product with a rate of 5.15% until March 31 2009.

Borrowers will benefit from a free basic valuation, with £300 cashback for home movers or refunded basic legal fees for those switching mortgage. There is an arrangement fee of £299 and early repayment charges apply in the fixed rate period.

David Hollingworth, mortgage specialist at L&C, says: “This product is the ideal solution for borrowers looking to gain the peace of mind of a fixed rate with the added bonus of avoiding heavy set-up fees.”