Alliance & Leicester launches new specialist mortgage deals

Alliance & Leicester is amending its current range of specialist mortgages.

The new specialist mortgage range is available from Tuesday 6 February and includes:

Reduced headline rates across many specialist deals
Buy-to-let rental cover of only 100% required on selected products
Self-certified and buy-to-let mortgages available at 90% LTV
Near Prime buy-to-let mortgages available at 85% LTV

Market leading tracker and fixed rate products:

Buy-to-Let – 2 year Fixed Rate 5.18%, maximum LTV 75%, arrangement fee - £1,999. 100% rental cover required. ERC 6% until 31/03/2008 then 5% until 31/03/2009.

Self Certified – 2 year Fixed Rate 5.84%, maximum LTV 90%, arrangement fee - £1,300. ERC 6% until 31/03/2009.

Near-Prime – 2 year Fixed Rate 5.84%, maximum LTV 80%, arrangement fee - £999. Free valuation. Remortgagers receive £250 cashback. ERC 6% until 31/03/2009.

Mehrdad Yousefi, Head of Intermediary Mortgages at Alliance & Leicester comments: “We’ve made significant improvements to our specialist mortgage range today. Not only have we sharpened up our rates but we now offer a rental income of just 100% on some of our buy-to-let deals. We now also offer some self-certification and buy to let deals at 90% LTV, which makes our range even more accessible. These changes result from broker feedback and they further strengthen Alliance & Leicester’s proposition to them and their clients.”