Legal & General Mortgage Club launch exclusive 90% mortgage product with The Hanley Economic Building Society.
15 October 2012
Legal & General Mortgage Club is delighted to announce the launch of an exclusive 90% mortgage product with The Hanley Economic Building Society. The mortgage product offers a variable discount for two years at 4.59% (representing a 0.6% discount off the Society's SVR), followed by the Society's SVR for the remainder of the term. The deal is available on purchases and remortgages for loans up to 90% LTV. The booking fee for this product is £200, with an arrangement fee of £400. The deal also includes a free standard valuation on properties up to £250,000, with a contribution of £240 towards the valuation of properties worth more than £250,000. For remortgages, legal fees are also free up to the value of £250.
Martyn Smith, Head of Mortgage Products, Legal & General Mortgage Club said:
"We have built an excellent relationship with the team at The Hanley over the last couple of years resulting in some great product exclusives for our members. This is another example - a market leading rate at 90% with low fees and valuation and legal incentives. Funds are understandably limited and The Hanley will require brokers to complete a checklist and budget planner to help ensure that the case will be accepted. This is a great product for those customers with just a 10% deposit."
Rob Hassell, Business Development Manager, The Hanley said:
"Having successfully completed a previous tranche of business at 90% with Legal & General we are pleased to re-launch into this market with them again on this exclusive competitive product. As a small lender, The Hanley prides itself on offering the Legal & General Mortgage Club members not only great rates but also individual underwriting backed up by a great services to the Broker."
Notes to editors
The information contained in this press release is intended solely for journalists and should not be relied upon by private investors or any other persons to make financial decisions.
The Legal & General Group, established in 1836, is one of the UK's leading financial services companies. As at 31 December 2012, we were responsible for investing £378 billion worldwide on behalf of investors, policyholders and shareholders. We also had over seven million customers in the UK for our life assurance, pensions, investments and general insurance plans.
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