The new mortgage is available on loans of up to 95% loan to value for purchases and is available up to a maximum valuation of £250,000.
Martyn Smith, head of mortgage products for the Legal & General Network, said: “It’s very pleasing to be able to offer another excellent exclusive with one of our partners via Legal & General Mortgage Club.
“Many borrowers have been finding it difficult to raise the large deposits required to access a lot of mortgage products.
“This Cambridge 3-year fix presents another option for those borrowers and offers additional choice at a time when the market really needs it."
L&G is also offering two further 2-year fixed-rates at 2.79% for 80% LTV and 3.49% for 85% LTV.
Tracy Simpson, mortgage and intermediary sales manager at The Cambridge, said: “We are delighted to be able to offer these products to Legal & General.
“We value feedback from our mortgage intermediary partners and there has been a real appetite for a high LTV product.
“Our product range is supported by the highly regarded service that is given to mortgage intermediaries by our Intermediary team.”
