Alliance & Leicester will shortly start to distribute buy-to-let, self-cert, near-prime and sub-prime specialist mortgage products through a number of mortgage intermediaries.
The assets originated will be sold to Lehman Brothers under an agreement. The bank confirmed this in its 2006 pre-close announcement to the City today.
Mehrdad Yousefi, head of intermediary mortgages, says: “We are very excited
to be nearing our launch into specialist markets where we aim to bring
additional choice and competition with market-leading mortgages.
We are delighted that we will be able to provide a wider range of deals to suit the changing needs of borrowers.
By working closely with mortgage intermediaries we can offer a ‘one stop shop’ for all clients’ needs.”