Alliance & Leicester extends its specialist mortgage range

Alliance & Leicester has improved its specialist mortgage range, and offers three 2 year self-certified mortgages, two of which are fixed-rate. Alliance & Leicester and other lenders are pulling their entire range while some such as Northern Rock have put products on withdrawal watch.

The fixed-rate packages are on offer at 5.34 and 5.84 per cent respectively, with maximum loan-to-value rates of 85 and 90 per cent also.

Both packages have an arrangement fee of £1,999, with early repayment charges of 6% applying during the mortgage period.

Jeremy Claridge, head of specialist mortgages at the group, said the new package offered a "wider choice of deals to those borrowers who earn a significant amount of bonus/commission, self-employed borrowers with this year's accounts that have yet to be made up and those who earn income from multiple sources or whose income is not regular".

Alliance and Leicester has also unveiled a near prime 2 year fixed-rate mortgage with a rate of 5.69%