The products include a 3.49% fixed for one year with £199 fee payable upfront and 3.0% on completion and a 3.99% fixed for three years with £199 fee payable upfront and 3.5% on completion.
Completion fees for both exclusives can be added to the loan up to a maximum 75% LTV and the maximum loan size is £750K. 10% per annum overpayments are allowed and the rental calculation is based on 125% of the reversion rate, currently 4.99%.
Martyn Smith, head of mortgage products at Legal & General Mortgage Club, said: "We have an excellent relationship with the team at the Cambridge and an opportunity arose for us to work together on these exclusives. We have seen a great deal of interest for products priced with a low headline rate so these exclusives should prove very popular amongst our members.”
Andy Lucas, commercial director at the Cambridge, said: “These new products are great news for Legal & General Mortgage Club members and widens the choice of deals that they can offer to their clients. We are keen to continue our support for lending in the buy-to-let sector as the demand in this market remains high."
