Alliance & Leicester is launching a new range of mortgages. All fixed rate products will be reduced by between 0.20% and 0.30% compared to products on the previous portfolio. The new offers are available from Thursday 30 October 2008 via brokers, Alliance & Leicester branches and by telephone from Mortgage Direct.
Alliance & Leicester offers a full prime residential portfolio on products up to 75% LTV, with selected products also available to a maximum of 85% LTV. The new range includes:
Two Year Fixed Rate 5.79% (previously 5.99%)
• Fixed until 31 December 2010, then Standard Variable Rate (currently 6.94%*)
• 1% product arrangement fee
• Customers can borrow up to 75% of the property value
• 10% overpayment facility
• Maximum loan £1 million
Three Year Fixed Rate 5.94% (previously 6.24%)
• Fixed until 31 December 2011, then Standard Variable Rate (currently 6.94%)
• £599 product arrangement fee
• Customers can borrow up to 75% of the property value
• 10% overpayment facility
• Maximum loan £1 million
Five Year Fee Saver Fixed Rate 6.59% (previously 6.89%)
• Fixed until 31 December 2013, then Standard Variable Rate (currently 6.94%)
• No product fee
• Customers can borrow up to 75% of the property value
• 10% overpayment facility
• Maximum loan £1 million
• Free valuation1
• Remortgage customers get £200 cashback or free Mortgage Transfer
Service2
Two Year Base Rate Tracker 5.79% (new product)
• 5.79% (BBR +1.29%) then Standard Variable Rate (currently 6.94%)
• 1% product arrangement fee
• Customers can borrow up to 75% of the property value
• Maximum loan £1 million
• Full flexible features3
Richard Taylor, Head of Mortgage Products at Alliance & Leicester, said: “We are reducing rates on all of our fixed rate products in the mortgage portfolio, which is great news for people looking for a new deal.
“These new mortgage products offer customers a number of options to choose from, including deals which benefit from no fees, as well as free valuation and legal fees.â€
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Notes to Editor:
* Will be available from Thursday October 30.
1Free valuation – refunded upon completion
2Mortgage Transfer Service – offers convenience for customers, speeds up the remortgage process and helps to remove or lower the associated legal costs.
3Full flexible features – allows customers to overpay every month by any amount, or in lump sums of £500 or more. With the overpayment “credit†customers can build up, they can borrow money back, take payment holidays or pay less in some months.
For further information mortgage brokers should visit www.al.intermediary.co.uk or call 0844 8009999.
For help evaluating your mortgage costs please use Alliance & Leicester’s mortgage calculator.
2008 Awards
Alliance & Leicester was named as Best Discounted Rate Mortgage Provider of the year by Moneyfacts.
Alliance & Leicester was named as Best Lender for First Time Buyer Products at the Legal & General Mortgage Club Awards.
Alliance & Leicester was highly commended as Best Remortgage Provider by Moneyfacts.
Alliance & Leicester named Best Current Account Provider (in credit interest) and Best Current Account Provider (debit interest) for the third consecutive year by Moneyfacts.
Alliance & Leicester is now part of the Santander Group, which has more than 150 years’ experience in banking, and more branches worldwide than any other international bank.. Banks in the Santander Group are committed to serving our customers and helping them make the most of their money. In 2008 Santander won the Euromoney ‘Best Global Bank’ award.
Alliance & Leicester plc,
Carlton Park,
Narborough,
Leicester,
LE19 0AL.
[email protected]
08000 688 638
website: www.alliance-leicester.co.uk
