Legal & General launches fixed-rate mortgages

Date:Friday 26th March 2010
Author: Susanna Kavka

The company offer includes a two-year fixed-rate mortgage at 6.25 per cent APR with a 90 per cent loan-to-value (LTV) ratio and a similar five-year product at 5.39 per cent APR with an 80 per cent LTV ratio.

Martyn Smith, head of mortgage products for the lender, said the higher LTV ratio market is currently having a resurgence, which is in part exemplified by its recent offering.

Mr Smith advised customers to view the terms and conditions of the product on the company website before adding: "The two-year rate is closing the gap on tracker products at 90 per cent and the five-year deal is very keenly priced for those looking for a stability of mortgage payments."

The housing market in England and Wales has recently reported a seven per cent increase in the standard price, which is now £164,455, according to the Land Registry House Price Index.