Leek United launches Legal & General Mortgage Club exclusive 5-year fixed rate mortgage

31 May 2019

Leek United has launched an exclusive 5-year fixed rate mortgage for Legal & General Mortgage Club brokers. The new product has a rate of 2.50%, offers a £250 cash back and a £995 fee (inc. £100 app fee) with a maximum LTV of 90%. This competitive mortgage rate is fixed until 31st October 2024.

Leek United has been a long established lending partner of Legal & General Mortgage Club, and the launch of this exclusive product further strengthens the relationship they have built up over the years.

As well as free valuations on all mortgages, Leek United’s mortgage range also includes options for buy-to-let landlords with fixed rate and discounted products, including first-time and non-homeowner landlords. Leek also offer mortgages for holiday homes and second homes, with every mortgage application being assessed individually.

To assist brokers, the Leek has launched an online affordability calculator to quickly help customers find a suitable mortgage from its range by providing an instant affordability decision^.

John Kelly, the Society’s Operations Director, said: “We’re delighted to work in conjunction with our long term business partner Legal & General Mortgage Club to provide an exclusive product for their intermediary members. Fixed rates are a popular choice for many and are proving attractive to both customers and intermediaries alike and we’re pleased to develop this new product offering through their distribution channel.”

Danny Belton, Head of Lender Relationships, Legal & General Mortgage Club, said: “There has been a strong focus on higher loan-to-value lending this year which is supporting first-time buyers, as well as those looking to remortgage, or come out of the Help to Buy or Shared Ownership schemes. It’s great to work with building societies such as Leek United who understand the needs of today’s customers and can provide excellent exclusive products like this, coupled with their manual approach to underwriting, to Legal & General Mortgage Club members.”

Recently the Leek won UK’s Best Variable Rate Mortgage Lender in the 21st annual Personal Finance Awards and were Highly Commended in the First-time Buyer Mortgage Provider category in the 2018 Moneynet awards.