The range now includes:
- Reduced headline rates across many specialist deals
- Buy-to-let rental cover of only 100 per cent required on selected products
- Self-certified and buy-to-let mortgages available at 90 per cent LTV
- Near Prime buy-to-let mortgages available at 85 per cent LTV
New tracker and fixed rate products:
- Buy-to-let – Two-year fixed rate 5.18 per cent, maximum LTV 75 per cent, arrangement fee - £1,999. 100 per cent rental cover required. Early repayment charge (ERC) 6 per cent until 31 March 2008 then 5 per cent until 31 March 2009.
- Self-certified – Two-year fixed rate 5.84 per cent, maximum LTV 90 per cent, arrangement fee - £1,300. ERC 6 per cent until 31 March 2009.
- Near-Prime – Two-year fixed rate 5.84 per cent, maximum LTV 80 per cent, arrangement fee - £999. Free valuation. Remortgagers receive £250 cashback. ERC 6 per cent until 31 March 2009.
Mehrdad Yousefi, head of intermediary mortgages at Alliance & Leicester, commented: "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 per cent on some of our buy-to-let deals. We now also offer some self-certification and buy-to-let deals at 90 per cent 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."
