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 at Legal & General Network, 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 Hassall, business development manager at The Hanley, added: “Having successfully completed a previous tranche of business at 90% with L&G, 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 great service to the broker.”
