L&G Mortgage Club adds Newcastle Building Society
Legal & General Mortgage Club has added Newcastle Building Society to its panel of lenders and will be launching a range of semi-exclusive mortgages, all with a maximum loan-to-value of 80%.
Legal & General has provided Newcastle Building Society with exclusive household, mortgage payment protection and travel insurance cover since June 2007. The new mortgages are:
Two-year fixed rate at 3.65% with 3% early repayment charge or 4.50% with no early repayment charge
Two-year discount at 2.89% (SVR minus 3.10%) with 3% early repayment charge or 3.79% (SVR minus 2.20%) with no early repayment charge
Two-year tracker at 2.49% (BBR plus 1.99%) with 3% early repayment charge or 3.55% (BBR plus 3.05%) with no early repayment charge
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. We welcome Newcastle Building Society to our panel and look forward to a mutually beneficial partnership with more exclusive products to come."
Steven Marks, Intermediary Sales Executive at NBS, said: "The Newcastle is already a key partner of L&G through its general insurance arrangements so we're very pleased this relationship has been extended to the Mortgage Club.
"We are strongly committed to growing our mortgage business through intermediaries. Our relationship with L&G will, without question, be one of our most important ones and I'm confident we can enhance the proposition of the club's members through our range of products."
Consumers interested in this exclusive deal can contact one of Legal & General's mortgage advisers through its online ‘Find a Mortgage Adviser' tool available at: legalandgeneral.com/findamortgageadviser Users can search for an adviser by entering their postcode.
The service is designed to help people find a mortgage adviser in their local area. It lists over 600 mortgage advisers across the UK who are members of Legal & General's mortgage network, LGPSL. Advisers can also offer borrowers a conveyancing service, a home information pack service and other Legal & General products.