Alliance & Leicester announced today (17 July 2006) that it will provide a range of specialist mortgage products, including buy-to-let, self-certification and near-prime mortgages, available initially via Premier Mortgage Service (PMS), the UK’s largest mortgage facilitator. A dedicated Intermediary Mortgage Centre for specialist lending has been created, as part of the bank’s ongoing commitment to provide a consistent, high impact, efficient service to meet the needs of brokers.

The Centre will be dedicated to specialist mortgage applications and will offer a complete service from application to completion - incorporating dedicated underwriting - providing an integrated service offering to the intermediary market.

Mehrdad Yousefi, Head of Intermediary Mortgages comments: “We are delighted to be taking our first steps in the specialist mortgage market. We intend to focus on offering great deals with a consistent and reliable service, supported by our friendly and knowledgeable staff.

“We are very pleased to be working closely with Premier Mortgage Service, who are an outstanding player in the intermediary market. Thousands of brokers will have access to our deals through PMS and to celebrate our launch we will be offering them a £100 bonus procuration fee for each application that goes on to completion.”

The new range of mortgages, which is available from Monday 17 July includes:

Prime Buy-to-Let Two Year Base Rate Tracker

• Bank of England Base Rate plus 0.49% until 30 September 2008, current rate 4.99% (6.5% APR), then Bank of England Base Rate plus 1.99%, currently 6.49%
• Customers can borrow up to 75% of the property value
• No Higher Lending Charge
• Product fee - £699
• Free valuation(¹)
• £250 cashback for remortgage customers(²)
• Early repayment fee – 6% in the first year and 5% in the second year if the mortgage is redeemed during the two year offer period
• Maximum loan - £500,000
• £100 bonus proc fee for all applications which complete

Prime Self-Certified Two Year Fixed Rate

• 4.90% (6.5% APR) fixed until 30 September 2008, then Bank of England Base Rate plus 1.99% for the life of the mortgage, currently 6.49%
• Customers can borrow up to 85% of the property value
• No Higher Lending Charge
• Product fee - £1,999
• Free valuation(¹)
• £250 cashback for remortgage customers(²)
• Early repayment charge – 6% in the first year and 5% in the second year if the mortgage is redeemed before 30 September 2008
• Maximum Loan - £300,000
• £100 bonus proc fee for all applications which complete

Certified Near-Prime Two Year Fixed Rate

• 5.75% (6.7% APR) fixed until 30 September 2008, then Bank of England Base Rate plus 1.99% for the life of the mortgage, currently 6.49%
• Customers can borrow up to 80% of the property value
• No Higher Lending Charge
• Product fee - £699
• Free valuation(¹)
• £250 cashback for remortgage customers(²)
• Early repayment charge – 6% if the mortgage is redeemed before 30 September 2008
• Maximum Loan - £500,000
• £100 bonus proc fee for all applications which complete

For information about Premier Mortgage Service (PMS) mortgage intermediaries should visit www.premiermortgageservice.co.uk or call 0845 845 1388.