L&G mortgage club launches two-year tracker at 5.99%

Legal & General Mortgage Club is launching a two-year tracker loan at 5.99% (base rate plus 0.99%) on 9th August.

The new deal, which is available at up to 75% loan-to-value for new purchases and remortgages, is being provided by Scottish Widows Bank, in its first offering through the mortgage club.

The loan carries a £999 arrangement fee, which can be added to the capital and customers who are remortgaging can benefit from a remortgage package or cashback.

All borrowers can make use of a facility that allows savings they may have to be offset against the loan.

L&G’s mortgage club was launched in 1995 and has gown to be one of the biggest in the UK.

The group says its portal allows advisers to access the majority of lenders in the UK market.

Next month will also see Britannia Building Society cut interest rates on its two, three and five-year fixed-rate deals, by up to 0.35%.

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