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Legal & General announce new mortgage

Legal & General Mortgage Club has launched a two-and-a-half-year fixed rate mortgage which will also offer a £3,000 limit credit card facility.

Interest on the service-guaranteed mortgage is fixed until March 1, 2003 at 6.29 per cent for loans of up to 90 per cent of the property value and 6.49 per cent for loans up to 95 per cent loan to value.

Borrowers can repay up to 15 per cent of their original balance in each calendar year with no early repayment charge.

An interest charge of 7.79 (APR 8.1 per cent) is levied on the credit card facility.

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