This mortgage is only available through mortgage advisers that are part of Legal & General Partnership Services Ltd (LGPSL), the mortgage network.
Commenting, Martyn Smith, head of mortgage products at Legal & General said: “This product is extremely competitive and gives advisers an opportunity to take advantage of the continuing low bank base rate, which means this fixed rate represents fantastic value for money.
“With uncertainty over how long rates will remain low, and a lingering risk of inflation, many borrowers will be pleased to fix at these rates for peace of mind.”
John Truswell, head of national accounts at Northern Rock said, "We’re delighted to offer this competitive fixed rate in partnership with Legal & General. We’ve worked together to design a product which we are confident will be an attractive option for the many borrowers looking for the security of fixed mortgage payments. Alongside our new affordability calculator, and policy improvements designed to make our lending criteria easier to understand, we're enhancing our proposition to make it easier to do business with us."
The product comprises:
• 2.89% fixed rate for 2 years until 01/12/2012
• Purchase and remortgage to 70% LTV
• Free valuation and legal fees for remortgage
• £1,295 arrangement fee (purchase product has a £99 application fee).
