Legal & General Mortgage Club and Virgin Money have launched an exclusive range of mortgages for remortgage customers.
The deals are available now through Legal & General ARs, The Mortgage Advice Bureau and Legal & General Nouveau members.
The new deals are available to customers with LTVs of between 70% and 80%:
- 5 year fixed rate at 2.39% up to 70% LTV with a £1,495 fee
- 5 year fixed rate at 2.69% up to 70% LTV with a £495 fee
- 5 year fixed rate at 2.85% up to 80% LTV with a £1,495 fee
- 5 year fixed rate at 2.99% up to 80% LTV with a £495 fee
To support potential re-mortgagers the deals will also include free valuation and free legal work. The range will also include £300 cashback for purchase customers on 80% LTVs.
Jeremy Duncombe, director of Legal & General Mortgage Club, said: “The re-mortgage market is an area we are very keen to support. Now is a great time for customers to be looking for a new deal so they can lock in a competitive mortgage ahead of when interest rates start to rise.
“I am also pleased that this range is available through intermediaries as the advice and knowledge that brokers can offer to consumers is vital to ensuring they get the mortgage deal that is right for them.”
Peter Rogerson, commercial director for mortgages at Virgin Money, said: “At Virgin Money, we share L&G’s view that there is a real opportunity for borrowers to save money by remortgaging. We are pleased to support L&G by offering new and attractive products at 70% and 80% LTV, which we believe will be well-suited to many remortgage customers.
“A lot of borrowers are keen to lock in the low interest rates that are currently available for longer, so these new five-year products are a really attractive option for them.”