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L&G launches new flexible mortgages

Legal & General is launching flexible mortgages with the option of cashback between £200 and £400 or free legal services.

Borrowers can take £200 cashback, with a discount of 1 per cent giving a current rate of 5.85 per cent, on a maximum loan to value of 95 per cent. At the end of the initial discount period the rate reverts to the variable rate, currently 6.85 per cent.

Borrowers taking a £200 cashback on a maximum 75 per cent loan to value receive a discount of 1.5 per cent for the first six months.

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