Legal & General Mortgage Club has announced the launch of a semi-exclusive product offering with Skipton Building Society.

The mortgage club said its latest offering is part of a commitment to its lender relationships, as well as its ongoing support for advisers.

L&G confirmed the first of the semi-exclusives is a two-year fixed-rate product, available at 70% loan-to-value (LTV) and priced at 4.79%. The second product fixed for five years and is also available at 70% LTV, but priced at 4.29%.

Both products have been designed by the club to help remortgage and product transfer customers, at the start of what L&G has suggested will be a “very busy year for remortgage activity”.

Data published by UK Finance has suggested that an estimated 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.

“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,” commented head of lender relationships at Legal & General Mortgage Club, Danny Belton.

“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.”

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