Alliance & Leicester is extending its current range of specialist mortgages.
The new mortgage range is available immediately and includes a buy-to-let product with rental cover of 115% required at product pay rate on three-year fixed and three-year tracker products.
It also offers a two-year buy-to-let tracker at 4.94% with a maximum LTV of 75% and an arrangement fee of 699, a self-cert two-year tracker at 5.00% with a maximum LTV of 75% and arrangement fee of 699, and a near prime two-year tracker at 5.50% with a maximum LTV of 80% and arrangement fee of 699.
Mehrdad Yousefi, head of intermediary mortgages at Alliance & Leicester, says: We entered the specialist mortgage market with a view to offering some great mortgage deals.
The reaction from both intermediaries and their clients has been very positive, and therefore we have decided to offer a more comprehensive product range.
As part of our phased launch into this market, we are also extending our distribution network so that all directly authorised brokers and mortgage clubs can now access our specialist mortgage range.