Alliance & Leicester Mortgages notes robust buy-to-let sales

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Alliance & Leicester Mortgages has reported good performance for buy-to-let packages throughout 2006.

The mortgage provider is now predicting continued strong sales in 2007 with a trend toward lending of reduced loan-to-value (LTV) ratios.

According to Alliance & Leicester Mortgages, 70 per cent of buy-to-let applications it received in December were for less than 75 per cent LTV, indicating a greater amount of deposit put down by landlords.

Mehrdad Yousefi, head of intermediary mortgages at Alliance & Leicester, said: "Figures show that some investor landlords are beginning to opt for base rate tracker mortgages."

"Many professional landlords are in the fortunate position to be flexible with their finances and able to withstand fluctuations in the base rate," he added.

About three in five (61 per cent) landlords opted for fixed-rate mortgages in December, although November statistics showed a higher proportion at 69 per cent.

Alliance & Leicester notes that new customers of its MoneyBack card can take advantage of an interest-free offer on credit card balance transfers if they make their application online.

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