MortgagesMay 29 2013

Legal & General Mortgages

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Members of the brokerage club can now get the lowest two-year fixed rate deal on the market, a 1.74 per cent mortgage at 60 per cent LTV and £1995 fee.

The new products also include a mortgage at 85 per cent LTV for 3.39 per cent and £995 fee and a 90 per cent LTV deal suitable for first-time buyers. It has 4.49 per cent rate and no fee.

Details of the full range are as follows:

· 1.74% rate and 60% LTV - £1995 fee

· 3.39% rate and 85% LTV - £995 fee

· 4.49% rate and 90% LTV - no fee

· 1.74% rate and 60% LTV - £1995 fee

· 3.39% rate and 85% LTV for remortgaging with a £995 fee

Paul Campion, mortgage adviser at Buckinghamshire-based The Financial Management Group, said: “Where fees are applied, they do seem quite high and to get the lowest rate on the market, you need a very decent deposit and a chunky loan.

“But anything that makes life easier for first-time buyers is welcomed and the rate on the 90 per cent LTV deal is competitive right now.”