The Mortgage Alliance - 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's 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.