As we reach the end of another week, we have a host of new products at our disposal to share with you. Our top recommended product for this week, however, comes in the form of a new Professionals Residential Mortgage product from Legal & General Mortgage Club.
One of the main reasons we felt it important to highlight this excellent find, is largely because Enness is of few selected intermediaries to have access to this exclusive product.
A Professional Mortgage product is usually accessible to people such as barristers, solicitors, medical doctors, actuaries and accountants – although this does vary dependent on the lender. You will also need to have qualified within the last 10 years and working in this field of profession.
Legal & General’s latest professional product is a 5 year fixed rate mortgage with a rate of 2.99% and a £999 product fee. This is available up to 90% LTV on a capital and interest basis.
This is a very low rate for such a high LTV, and proves beneficial to many professionals by providing a more flexible affordability assessment. Equally, professionals employed in a role that sits outside of their qualification, can still be considered on an individual basis.
This product is available for first time buyer and home-mover purchases only, which comes with a maximum loan size of £500,000 and a minimum lending age of 21 (which must come with evidence of registration from the appropriate governing body).
Overall, this is an excellent opportunity for a professional seeking a mortgage, providing exclusive access to more flexible criteria than available on the high street – yet still with a competitive rate.
If this is something you are interested in, please do not hesitate to contact us for more information. We work with a huge variety of private and specialist banks, providing access to many offers simply not available from mainstream lenders.