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A&L increases rates on BTL

Alliance & Leicester is increasing its rate on its two year fixed rate buy to let product from tomorrow.

The product will increase from 6.49 per cent to 7.14 per cent with a 2.5 per cent fee. It continues to be available up to 75 per cent LTV.

In an email to brokers the bank says it will no longer accept buy to let portfolio or paper applications. All of its BTL applications must be received online.

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