The BTL range includes a two-year Base Rate tracker, available from an initial rate of 5.09 per cent, and a two-year fix, available from 5.39 per cent. The two-year tracker is available up to 85 per cent loan-to-value (LTV), with an arrangement fee of £1,999.
It has an early repayment charge of 6 per cent until June 2009. The two-year fix is available from 5.39 per cent, with a maximum loan-to-value of 75 per cent. Both products have rental cover of 100 per cent required at Bank of England Base Rate plus 1 per cent.
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A&L also launched a self-cert two-year Base Rate tracker, available from 5.15 per cent with an arrangement fee of £1,399.
Jeremy Claridge, head of specialist mortgages at A&L, said: “We’ve introduced some lower priced buy-to-let and self-cert products with fixed arrangement fees giving brokers more choice.”
Claridge also confirmed that it had extended its FeeSaver deals following feedback from brokers.
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Rod Murdison, proprietor at Murdison & Browning, said: “The BTL fixes seem to be pitched at remortgage business, as most people don’t tend to enter the market with a 25 per cent deposit. A&L is being very clear as to what market it is after and what business it wants.”
