The deal, which is exclusive to The Mortgage Alliance, applies to minimum loans of £50,000 and offers 1.05% discount for two years with no overhang and a pay rate of 4.95%. A £325 arrangement fee may be added on completion and an early redemption charge of six months’ interest at standard variable rate within the discount period also applies.
At the same time, The Mortgage Alliance has added Bristol & West and Cheltenham & Gloucester to its panel, boosting the choice of lenders available to IFAs through the fast-growing mortgage club, to a total of 17. The Mortgage Alliance has signed up over 2,500 members and placed over £1.5 billion with mortgage lenders since its launch two years ago.
