L&G teams up with Newcastle BS for new mortgages

Monday, 29 March 2010 12:00

Legal & General has unveiled two new fixed-rate mortgages provided by Newcastle Building Society.

The first new product has a two-year term and carries a rate of 6.25 per cent for a maximum loan-to-value (LTV) of 90 per cent.

Meanwhile, the five-year mortgage has a rate of 5.39 per cent for an 80 per cent maximum LTV.

Both home loans carry early repayment charges, as well as reservation and completion fees.

Consumers can access the products by going through a Legal & General mortgage adviser.

"The higher LTV market is coming back and these are good examples of competitive rates at those levels," said Martyn Smith, head of mortgage products at Legal & General.

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