11 Oct

Legal & General launches competitive mortgage for homebuyers

Legal & General launches competitive mortgage for homebuyers

Legal & General has released a new mortgage to help homebuyers purchase a house for sale in the UK.

The two-year fixed-rate home loan is provided by Northern Rock and is obtainable at Legal & General Partnership Services mortgage advisors.

It is available for mortgages of 70 per cent loan-to-value (LTV) and comes with a fixed-rate of 2.89 per cent.

According to Martyn Smith, head of mortgage products at Legal & General, this competitive product presents homebuyers with "fantastic value for money".

"With uncertainty over how long rates will remain low and a lingering risk of inflation, many borrowers will be pleased to fix at these rates for peace of mind," he added.

Head of national accounts at Northern Rock John Truswell added that the mortgage "will be an attractive option" for those looking for security of payment.

Last week, Yorkshire Building Society released its five-year fixed-rate mortgage at a rate of 3.89 per cent on loans of 60 per cent LTV.  ADNFCR-1222-ID-800109330-ADNFCR

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