Alliance & Leicester enhances range of specialist mortgages

Alliance & Leicester is enhancing its range of specialist mortgages, the new specialist mortgage range is available from Wednesday 7 March and includes:

New specialist mortgage deals from Alliance & Leicester

A&L introduces ‘FeeSaver’ buy-to-let deals

Market leading tracker and fixed rate products:

Buy-to-Let - 2 year Base Rate Tracker FeeSaver 5.81% (BBR + 0.59%), maximum LTV 75%. No arrangement fee, free valuation and £250 cashback. 110% rental cover required. ERC 6% until 31/03/2008 then 5% until 31/03/2009.

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 85%, arrangement fee - £1,300. ERC 6% until 31/03/2008 then 5% until 31/03/2009. No income checks.

Jeremy Claridge, Specialist Mortgage Manager at Alliance & Leicester comments: “Following broker feedback and demand we are introducing a FeeSaver option to our buy-to-let range. This deal minimises entry costs for remortgaging or developing a buy-to-let portfolio, and has no arrangement fee, a free valuation and £250 cashback. It will particularly suit landlords with lower value properties in Scotland and the North of England. We’ve also maintained our very competitive pricing on the rest of our range of deals.”