Skipton boost for L&G Club members

As of last Thursday, members of Legal & General Mortgage Club can now access two Skipton Building Society products on a semi-exclusive basis.

This latest offering is part of the Club’s commitment to its varied and extensive lender relationships, as well as its ongoing support for advisers.

The first of the semi-exclusives is a 2-year fixed-rate product, available at 70% LTV and priced at 4.79%, while the second is 5-year fixed-rate product, also available at 70% LTV but priced at 4.29%.

Bumper year

Both products are designed to help remortgage and product transfer customers, at the start of what is predicted to be a very busy year for re-mortgage activity.

Data from UK Finance suggests that close to 1.8 million fixed-rate mortgage customers will reach the end of their initial deal rate in 2023 and will be searching for a new deal this year.

Danny Belton, Head of Lender Relationships, Legal & General Mortgage Club commented:

“With 2023 set to be another bumper year for refinancing, it is crucial that we expand our product offering and support for advisers in this area. Product transfers made up just under a quarter of completions through Mortgage Club last year, marginally up on 2021, and I would not be surprised to see this climb further in 2023. We pride ourselves on partnering with a vast array of lenders – of all sizes and specialisms – and look forward to further product and lender updates later this year.”