L&G Mortgage Club launch Cambridge B2L exclusives

Robyn Hall

July 31, 2012

The deals on offer include a 3.49% 1-year fix with a £199 fee payable upfront and 3.0% on completion and a 3.99% 3-year fix with a £199 fee payable upfront and 3.5% on completion.

Completion fees for both exclusives can be added to the loan up to a maximum 75% LTV and the maximum loan size is £750K. Up to 10% per annum overpayments are allowed and the rental calculation is based on 125% of the reversion rate, currently 4.99%.

Martyn Smith, head of mortgage products, Legal & General Mortgage Club, said: “We have an excellent relationship with the team at The Cambridge and an opportunity arose for us to work together on these buy-to-let exclusives. We have seen a great deal of interest for products priced with a low headline rate so these exclusives should prove very popular amongst our members.”

Andy Lucas, commercial director at The Cambridge, said: “These new products are great news for Legal & General Mortgage Club members and widens the choice of deals that they can offer to their clients. We are keen to continue our support for lending in the Buy to Let sector as the demand in this market remains high”.

Sign up to our daily email