A&L launches specialist products

The tracker and fixed rate products are:

• Buy-to-let - Two-year Base Rate tracker FeeSaver 5.81 per cent (BBR + 0.59 per cent), maximum loan-to-value (LTV) 75 per cent. No arrangement fee, free valuation and £250 cashback. 110 per cebt rental cover required. Early repayment charge (ERC) 6 per cent until 31 March 2008 then 5 per cent until 31 March 2009.
• 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. 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 85 per cent, arrangement fee - £1,300. ERC 6 per cent until 31 March 2008 then 5 per cent until 31 March 2009. No income checks.

Jeremy Claridge, head of specialist mortgages at Alliance & Leicester, commented: “Following broker feedback and demand we are introducing a FeeSaver option to our buy-to-let range. This deal minimises entry costs for remortgaging or developing a buy-to-let portfolio, and has no arrangement fee, a free valuation and £250 cashback. It will particularly suit landlords with lower value properties in Scotland and the North of England. We’ve also maintained our very competitive pricing on the rest of our range of deals.”