L&G launches fixed rates with Newcastle
The new mortgages are a 2-year fixed rate at 6.25% APR (max LTV 90%) with 3% early repayment charge, £195 reservation fee and £499 completion fee and a 5-year fixed rate at 5.39% APR (max LTV 80%) with 3% early repayment charge, £195 reservation fee and £800 completion fee.
Martyn Smith, head of mortgage products at Legal & General said: “The higher LTV market is coming back and these are good examples of competitive rates at those levels.
“The two year rate is closing the gap on tracker products at 90% and the five year deal is very keenly priced for those looking for a stability of mortgage payments over a longer period.”
Steven Marks, intermediary services xecutive at NBS, said: “We are pleased to progress our relationship with L&G further with these two competitive fixed rate products.
“The Newcastle is keen to support homeowners with attractive offers and we’re confident these products will prove to be popular to the Mortgage Club and its customers.”