L & G launch an exclusive range of mortgage rates for a 5 year fixed term.

The Legal & General has launched a new range of exclusive mortgage rates with a 5 year fixed interest rate.

The deals have been launched with Cambridge Building Society and are only available via the Legal & General network for a maximum loan size of £250,000.

The exclusive mortgage rates for a 5 year fixed term include 4.09 per cent to 80 per cent LTV, 4.34 per cent to 85 per cent LTV and 5.24 per cent to 90 per cent LTV. The loan fees are £999 with free legal work and valuations for remortgages.

Legal and General advise that they have witnessed increased interest from borrowers for fixed rate mortgage deals and see that their 5 year deals in particular seem to be popular. The Cambridge Building Society say they priced their 5 year deals across the various LTV bands to appeal to more borrowers and the products are managing to sit at the top of sourcing on rate. A spokesperson at the Cambridge Building Society added that because of a continued low base rate mortgage customer demand for medium term fixed rate products is increasing.

The Cambridge Building Society say that they are confident that their mortgage rates for a 5 year fixed term through the Legal & General mortgage club, will be very competitive against other lender offers currently available on the market. The lender believes that when borrowers factor in the flexibility of 10 per cent overpayment benefits and early repayment charges there will significant interest in the deals.