L&G Mortgage Club announces product launch with Shawbrook

Shawbrook's prime second charge product is available for applicants up to 80 years old with rates from 3.40% + base rate and up to 95% LTV. The product also benefits from no ERCs and free and flexible overpayments.

Additionally, the 55 Plus interest-only product is available for borrowers up to the age of 85 and offers terms of 5-15 years with variable rates from 4.75% and fixed rates from 5%.

Danny Belton, Head of Lender Relationships, Legal & General Mortgage Club, commented: “We are really proud to announce our latest partnership with Shawbrook Bank, a very welcome addition to Legal & General Mortgage Club’s lender panel. Shawbrook’s innovative and competitive products will support our second charge and Later Life lending propositions and we look forward to working closely together and strengthening our development in these growing market sectors.”

Maeve Ward, Managing Director of Residential Mortgages, Shawbrook Bank, added: “We’re excited to have launched these products with Legal & General Mortgage Club. Shawbrook is committed to supporting customers with a variety of borrowing needs and hope that these products will enable more brokers to find the right mortgage for their customers. Particularly older borrowers looking to secure the right mortgage for their situation, so they can enjoy a more comfortable retirement.”