Alliance & Leicester amends specialist mortgage range

Alliance & Leicester has announced that it is altering its current range of specialist mortgages, starting with a new buy-to-let two-year fixed-rate product.

This deal now has an interest rate of 5.29 per cent, is available to a maximum loan-to-value (LTV) of 75 per cent and has an arrangement fee of £799.

The lender’s buy-to-let two-year tracker mortgage will run at 0.15 per cent above the base rate, giving it a current rate of 4.9 per cent, with a maximum LTV of 75 per cent and a £699 arrangement charge.

Alliance & Leicester also offers a self-certified deal, with a two-year fixed interest rate of 5.25 per cent, a £999 charge for arrangement, a maximum LTV rate of 85 per cent and free valuation.

The final new product is a two-year fixed-rate package for near-prime borrowers, which carries a rate of 5.9 per cent, allows maximum LTV rates of 80 per cent and charges a fee of £699.

Mehrdad Yousefi, head of intermediary mortgages at Alliance & Leicester, said: "Our comprehensive specialist product range offers great value and choice to brokers and their clients.

"We’ve maintained our tracker deals and our fixed rates have only increased marginally to reflect swap rate changes."