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A&L officially launches specialist lending range

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.”


Packagers strike back at Bolton

Packagers have dismissed Michael Bolton’s attack on the packager market as a “joke” and say he is talking rubbish. Speaking exclusively to Mortgage Strategy last week, Bolton said that the packager market was the “clear loser of mortgage regulation” and remains “as grey today as before Mortgage Day”. But John Mawdsley, joint director of The […]

Concern over Preferred’s online calculator

Preferred has sparked concern over the large amounts its online affordability calculator is offering borrowers. Preferred removed income multiples from its product range last week, calculating loan amounts based solely on affordability criteria. But a source says: “The amounts it shows customers can borrow are quite large, based on relatively small earnings. It’s a bit […]

InterBay employee is first to pass CeCM exams

InterBay Funding, the UK’s new commercial lender, has announced thatunderwriting manager, Tim Shutler, is one of the first in the industry totake and pass the Certificate of Commercial Mortgage exams.The CeCM were launched in May 2006 by the Institute of FinancialServices, as an additional qualification to the CeMAP exams.Shutler joined the InterBay team on February […]

InterBay fills marketing role

InterBay Funding has appointed Anna Bennett as marketing manager, heading the US commercial lender’s UK marketing effort.

A guide to auction finance in 2017

By Matt Tooth, chief commercial officer, LendInvest Over the coming weeks, property auction houses across the country will begin sending out their catalogues to prospective buyers in time for the first auction series of 2017. It’s an exciting time for investors, well aware of the opportunities the properties on the lot sheets offer them and […]


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