The tracker comes with a free offset facility and a £999 arrangement fee which can be added to the loan and remortgage clients will receive the added benefit of a remortgage package or cashback. It is available up to 75% LTV for purchase and remortgage clients.
Martyn Smith, head of mortgages at Legal & General said: "This exclusive tracker mortgage will be an attractive option for any borrowers with some equity in their home and some funds set aside with which they can offset against the loan. The headline rate is very competitive and we welcome Scottish Widows Bank to our Mortgage Club for the first time."
Gordon Bowden, business development director at Scottish Widows Bank said: "We are delighted to be joining the Legal & General Mortgage Club and are very pleased to introduce this attractive tracker mortgage exclusive to members. The free offset facility allows clients greater flexibility to manage their finances, and this is becoming a popular feature for many customers."
Legal & General has one of the biggest mortgage clubs in the country which acts as a one-stop-shop for mortgage advisers to access lenders. With over 10,000 members who are either directly authorised or appointed representatives of the mortgage network, the Legal & General Mortgage Club has the weight to negotiate the best exclusive deals with lenders.
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