Legal & General launches tracker mortgage

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Legal & General has launched a new tracker product through its Mortgage Club initiative.

The lender has teamed up with Scottish Widows to offer the deal through the scheme, which is designed as a "one-stop shop" for mortgage advisers to access companies.

According to the firm, the tracker, which is available with up to 75 per cent loan to value, features a free offset facility, a £999 arrangement fee and a remortgage package.

Commenting on the deal, Legal & General's head of mortgages Martyn Smith 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."

Recent figures from Nationwide revealed that the price of a typical house in the UK fell by just under two per cent last month.

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