The range will include several amendments, including rental cover of 100 per cent on selected buy-to-let (BTL) products; self-certified and BTL mortgages available at 90 per cent loan-to-value (LTV) as well as near-prime BTL mortgages at 85 per cent LTV.
Mehrdad Yousefi, head of intermediary mortgages at A&L, commented: “We’ve made significant improvements to our specialist mortgage range. Not only have we sharpened our rates but we now offer a rental income of 100 per cent on some of our BTL deals. We also offer some self-cert and BTL deals at 90 per cent LTV, which makes our range more accessible. The changes result from broker feedback and further strengthen our proposition.”
Its two-year fixed BTL starts from 5.18 per cent, the self-cert two-year fix is at 5.84 per cent and the near-prime two-year fix is available from 5.84 per cent.
Anthony Badaloo, manager at Church Hill Finance, said: “A&L is a reputable lender and although it is good to see the market expanding, it is only just catching up with the competition. There are several high street lenders who will lend to slight adverse borrowers without any extra loading.
“With the currant trend of rising rates and the overheating of the market, offering 100 per cent rental cover seems like too little, too late, and will only catch the tail end of the boom.”
