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
Fixed rate:
Two Year Fixed Rate 5.79% (previously 5.99%) fixed until 31 December 2010, then Standard Variable Rate (currently 6.94%) - terms -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%) - terms - £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%) - terms - No product fee - Customers can borrow up to 75% of the property value - 10% overpayment facility - Maximum loan £1 million - Free valuation (refunded on completion) - remortgage customers get £200 cashback or free Mortgage Transfer
Tracker rate:
Two Year Base Rate Tracker 5.79% (new product) 5.79% (BBR +1.29%) then Standard Variable Rate (currently 6.94%) - terms - 1% product arrangement fee - Customers can borrow up to 75% of the property value - Maximum loan £1 million
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."
