A&L has also enhaced its self-cert and near primes ranges. The credit-adverse portfolio covering minor, medium, heavy and unlimited adverse markets has now launched.
Both prime residential and specialist mortgages are now available online to all intermediaries, whether directly authorised or acting as an appointed representative, allowing immediate decisions and Key Fact Illustrations (KFIs) to be given, and both on and off line applications to be made.
Through its Specialist Lending Centre, Alliance & Leicester will cascade borrowers both up and down its Prime, Near Prime and Credit Adverse range to ensure that the most appropriate product is provided.
Mehrdad Yousefi, head of intermediary mortgages at Alliance & Leicester, commented: "Alliance & Leicester is dedicated to giving mortgage brokers what they want - a one stop shop where they can quickly and easily access a competitive and comprehensive range of mortgages.
"Our intention is to be a serious broad-based lender with a consistent and reliable range of mortgage deals alongside excellent service. Offering this specialist mortgage range to both new and existing customers alongside prime residential customers puts us a step ahead of our competitors and recognises that individual personal circumstances and borrowing needs can change over time.
"We now boast a great range of mortgages enabling brokers to service a broad range of clients - from those who may want to improve their personal income through the purchase of buy-to-let property, or who want to purchase a home but who have irregular forms of income, or need help in repairing their credit profile. A&L can now cater for them all."
The range of mortgages available includes:
- Buy-to-Let - two-year fixed rate 5.13% until 31/03/2009, maximum loan-to-value (LTV) 75%, arrangement fee - £999. Early Repayment Charge (ERC) 6% until 31/03/2008 then 5% until 31/03/2009.
- Buy-to-Let - two-year Base Rate tracker 5.24% until 31/03/2009 (BBR + 0.24%), maximum LTV 75%, arrangement fee - £799. Free valuation. Remortgagers receive £250 cashback. ERC 6% until 31/03/2008 then 5% until 31/03/2009.
- Self Certified - two-year fixed rate 5.24% until 31/03/2009, maximum LTV 85%, arrangement fee - £999. 6% until 31/03/2008 then 5% until 31/03/2009.
- Near-Prime - two-year fixed rate 5.90% until 31/03/2009, maximum LTV 80%, arrangement fee - £799. Free valuation. Remortgagers receive £250 cashback. ERC 6% before 31/03/2009.
