The deal is available up to 80% LTV for both purchases and remortgages. The product offers a £495 fee, a free valuation and waived legal fees for remortgage customers.
Martyn Smith, head of mortgage products, Legal & General Network, said: “Access to great value exclusives is becoming an increasingly important factor for brokers in deciding which network or club they want to do business with. This new deal is particularly attractive with its competitive rate and low completion fee. At a time of interest rate uncertainty, now is the time that brokers should be speaking with clients on standard variable rates about securing their mortgage payments.”
A Mortgage Solutions poll taken in May revealed 36% of brokers would move networks or use a different mortgage club for better exclusive products.
Paul Darwin, head of intermediary lending at Skipton Building Society, said: “Our broker relationships are very important to us, with more than 90% of our lending being done through intermediaries.
“Therefore, we’re delighted to work with clubs like L&G to provide deals which help them respond to their customers’ feedback and needs.”
