The Cambridge launches 5-year fixed rate mortgage with L&G

The Cambridge Building Society has launched an exclusive 5-year fixed rate mortgage in conjunction with Legal & General.

This exclusive offers Legal & General AR's and Nouveau members The Cambridge's 5-year fixed rate product at a reduced rate.

Exclusive 80% LTV at 4.09% - usually 4.19%
Exclusive 85% LTV at 4.34% - usually 4.49%
Exclusive 90% LTV at 5.24% - usually 5.49%

Andy Lucas, Commercial Director at The Cambridge says: "There has been an increase in demand for 5-year fixed rate mortgages so we have been working closely with Legal & General to be able to offer its broker network a competitively priced exclusive product."

Martyn Smith, Head of Mortgage Products at Legal & General says: "We are also seeing an increased interest in 5 year deals with borrowers preferring the certainty of a fixed rate.  These exclusives are priced competitively by The Cambridge across the 3 LTV bands and source extremely well with remortgage customers also benefiting from a free valuation and free legals."  

The exclusive product comes with a £999 application fee, of which £199 is payable upfront and has a maximum loan size of £250,000. The product also features free legal and valuation fees for remortgage applications.