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Alliance & Leicester – Buy-to-Let Two Year Fixed Rate

Alliance & Leicester

Buy-to-Let Two Year Fixed Rate

Type: Buy-to-let fixed rate

Fixed term: Until June 30, 2010

Fixed rate: 5.54%

Minimum loan: £25,000

Maximum loan: Up to 85% of valuation subject to a maximum of £500,000, up to 70% of valuation for new build flats and maisonette

Income multiples: Rental income must be at least 120% of mortgage repayments for loans up to 85% of valuation, at least 100% of mortgage repayments for loans up to 75% of valuation

Conditions: Capital repayments of up to 10% a year allowed without penalty, unlimited properties allowed within total maximum of £3m

Arrangement fee: 2.5% of the original loan

Redemption fee: 5% of the amount repaid in the first two years

Introducer’s fee: Subject to negotiation

Tel: 0845 300 2563

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