Legal & General Mortgage Club today announced a change to Landbay, which offers two new semi-exclusive mortgage products for its members.
Mortgage advisors will have access to two five-year fixed rate mortgages. The first one with a rate of 3.09% has a maximum loan-to-value of 70%. This product is also subject to a 5% refund rate and has a loan limit of £ 30,000 to £ 1.5 million.
The second product differs only in that it has a maximum loan amount of 75%, a minimum loan amount of £ 75,000 and an interest rate of 3.19%.
Both products are available for first-day remortgages and are available on or adjacent to commercial facilities, subject to conditions.
Hierarchical limited companies may also qualify and have financing facilities. Landbay products do not accept new builds or limited liability transactions.
Danny Belton, Head of Lender Relations at the Legal & General Mortgage Club, said:
Joela Jenvey, Head of the Landbay Network and Club, said:
L & G Mortgage Club Announces Landbay Product Changes
Source link L & G Mortgage Club Announces Landbay Product Changes