Alliance & Leicester (A&L) says it is now very near to launching its non-conforming mortgage ranges.
The bank confirmed the launch this morning in a trading statement to the City, while also reporting gross mortgage lending was up to £3.2bn with net lending up to £1.4bn for the first quarter of 2006.
The bank announced last summer it intended to launch sub-prime, near-prime, self-certification and buy-to-let mortgages through intermediaries and has also confirmed it has signed an agreement with Lehman Brothers to sell on books of business it builds up in the non-conforming market.
Mehrdad Yousefi, head of intermediary mortgages at A&L, says: "We are very excited to be nearing our launch into specialist markets where we aim to bring additional choice and competition with market-leading mortgages. We are delighted that we will be able to provide a wider range of deals to suit the changing needs of borrowers. By working closely with mortgage intermediaries we can offer a 'one stop shop' for all clients' needs."
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