Two Year Fixed Rate
* 4.95.% (6.9% APR) fixed until 31st October 2006
* Customers can borrow up to 95% of the property value
* Arrangement fee - £595
* Early repayment fee - 6 months' gross interest if the mortgage is redeemed before 31st October 2006
* 10% overpayment facility
Two Year Discounted Rate
* 2.40% discount off Alliance & Leicester's Standard Variable Rate (currently 6.84%) for two years - current rate: 4.44% (6.8% APR)
* Early repayment fee - 6 months' gross interest if the mortgage is redeemed during the discounted rate period
* Customers can borrow up to 95% of the property value
* Arrangement fee - £595
* 10% overpayment facility
Paul Cooper, Head of Mortgages at Alliance & Leicester said: "At a time when interest rates are going up our newly priced two year fixed and discounted mortgages are coming down and offering people great value for money."
Paul Cooper continues: "For those who seek budgetary certainty with their monthly mortgage payments our fixed rate products will be ideal, whilst those who are attracted to highly competitive variable rates will like our discounted products. With no extended tie-in and a 10% overpayment facility available, both products offer great rates along with flexibility. The arrangement fee on both products can be added to the loan for those people who want to keep initial up-front fees to a minimum, such as first time buyers."
