MX in Mortgage Alliance deal

The Mortgage Alliance &#45 the Scottish Mutual and Scottish Provident mortgage club – has launched a self certification discount product from Mortgage Express, one of the three new lenders to be added to its panel in the last month.

The deal applies to minimum loans of £50,000 and offers 1.05% discount for two years with no overhang and a pay rate of 4.95%. A £325 arrangement fee may be added on completion and an early redemption charge of six month&#39s interest at Standard Variable Rate within the discount period also applies.

The Mortgage Alliance has also added Bristol & West and Cheltenham & Gloucester to its panel, which now brings the choice of lenders available to IFAs through the mortgage club to a total of 17.

The Mortgage Alliance has to date signed up over 2,500 members and placed over £1.5 billion with mortgage lenders since its launch two years ago.