The Mortgage Alliance – the Scottish Mutual and Scottish Provident mortgage club – has launched an exclusive self certification discount product from Mortgage Express, one of three
new lenders to be added to its panel in the last month.
The deal, which is exclusive to The Mortgage Alliance, 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 months' interest at SVR within the discount period also applies.
At the same time, The Mortgage Alliance has added Bristol & West and Cheltenham & Gloucester to its panel, boosting the choice of lenders available to IFAs through the fast-growing mortgage club, to a total of 17.
Mark Evans, national mortgage manager, says: “The Mortgage Alliance has established itself as a serious player in the market and Mortgage Express has a great reputation. We're delighted to have Mortgage Express, and the other new lending partners on board, andthis competitive new Self Certification Discount product will provide the ideal launch pad to our relationship. I look forward to working with all three new lending partners to continue to provide excellent products and services for our members.”
The Mortgage Alliance has signed up over 2,500 members and placed over £1.5 billion with mortgage lenders since its launch two years ago.