Legal & General Mortgage Club has launched an exclusive two-year fixed rate mortgage at 3.35%, funded by Hanley Economic Building Society.

Advisers can speak directly to an underwriter and applicants will not need to be credit scored.

The product comes with a £100 booking fee and a £1,399 administration fee. It is available to a maximum LTV of 75%.

Martyn Smith, head of mortgage products at Legal & General said: “Credit scoring has its place but complex prime cases are not always catered for by this approach. There are many reasons why an otherwise credit-worthy borrower might generate a low credit score. Ditching credit scoring is an innovative