Legal & General Mortgage Club has launched two new fixed rate products, funded by the Newcastle Building Society (NBS).

There is a two-year fixed rate at 6.25% APR (maximum LTV is 90%) with a 3% early repayment charge, £195 reservation fee and £499 completion fee.

There is also a five-year fixed rate at 5.39% APR (maximum LTV is 80%) with a 3% early repayment charge, £195 reservation fee and £800 completion fee.

Martyn Smith, head of mortgage products at Legal & General, said: “The higher LTV market is coming back and these are good examples of competitive rates at those levels. The two-year rate is closing the gap on tracker products at 90% and the five-year deal is very keenly priced for those looking for a stability of mortgage payments over a longer period.””