For pt.I see ibid., vol.17, p.1897 (1984). The diagrammatic locator formalism for independent electrons hopping in a lattice with random site potentials, which was developed in a previous paper, is applied to yield a self-consistent treatment of the Anderson transition. The theory of Vollhardt and Wolfle (1980, 1982) based on an extended state formalism within an Edwards model is re-inspected for this model resulting finally in a self-consistent equation for the frequency-dependent diffusion coefficient, which displays the same structure as the equation already derived by these authors but is built on a somewhat different physical picture and may be evaluated for strong coupling equally well. Finally the level repulsion effect of Mott, which leads to a omega 2 mod ln omega mod d+1 dependence in the real part of the electrical conductivity is discussed in this picture.