Alliance & Leicester is completely revamping its mortgage range with several exclusively available through intermediaries.
The new two-year mortgage rate followed by a 3-year cap will only be available through IFAs.
It will offer a rate of 5.05 per cent (5.30 APR) followed by a cap of 6.50 per cent. The mortgage offers reduced initial payments, no arrangement fee and only one year extended tie-in period.
It has also improved rates on its 5.75 per cent on LTV up to 80 per cent with no tie-in. The two-year fixed rate has dropped to 4.45 per cent (4.60 APR). For LTV up to 95 per cent the rate has dropped to 5.25 per cent (5.0).
The Free Saver has been restricted to mortgages. The reduced 4-year capped rate is now 5.6 per cent.