Alliance & Leicester joins Mortgage Promotions&#39 lending panel

Mortgage Promotions announced today that Alliance & Leicester has joined its direct access lending panel.

Nick Baxter, director of Mortgage Promotions, says: “Our main aim has always been to deliver what our members want. A significant number of members have requested access to Alliance & Leicester through our club so that is what we have delivered.”

Mortgage Promotions members can now receive the following fees when submitting business via Mortgage Promotions to the Alliance & Leicester:

Brokers submitting paper applications for loans of up to £25,000 will receive £50.00; £25,000 to £99,999 will get £125; and loans of £100,000 or higher will receive 0.22% of the advance up to a maximum of £2,400.

Brokers submitting applications on-line will earn £50 for loans up to £25,000; £25,000 to £99,999 will receive £150.00; and loans of £100,000 or higher will get 0.27% of the advance up to a maximum fee of £2,400.

Mehrdad Yousefi, key account manager for Alliance & Leicester, says: “Mortgage intermediaries have always been an important source of good quality business for Alliance & Leicester. We are delighted to form a relationship with Mortgage Promotions which has already recruited a significant number of members since its launch.”