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Discount deals on L&G loans

Legal & General has revamped its flexible mortgage range so borrowers can choose between four combinations of flexible loan.

All new customers will get an initial discount for the first six months of the mortgage and choose to get a cashback of £200-£400.

The level of discount varies between 1.5 per cent and 0.5 per cent, depending on the amount of cashback chosen and what percentage of the property value is borrowed.

All the discount and cashback options come with L&G&#39s full range of flexible mortgage features, including overpayments, payment holidays, daily interest and no redemption penalties.

Following completion of the discount period, the interest rate reverts to L&G&#39s standard variable rate, currently 6.85 per cent.

L&G Bank managing director Mike Bury says: “Customers can now pick and mix the flexible mortgage that suits their circumstances.”

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