Two Year Fixed Rate
- 4.44% (5.5% APR) fixed until 31 August 2007 then Bank of England Base Rate plus 0.75% for the life of the mortgage
- Customers can borrow up to 95% of the property value
- Product fee - £395
- Early repayment charge – 3% of the outstanding balance if the mortgage is redeemed before 31 August 2007
- 10% overpayment facility
Five Year Fixed Rate
- 4.59% (5.3% APR) fixed until 31 August 2010 then Bank of England Base Rate plus 0.75% for the life of the mortgage
- Customers can borrow up to 95% of the property value
- Product fee - £395
- Early repayment charge – 3% of the outstanding balance if the mortgage is redeemed before 31 August 2010
- 10% overpayment facility
New 2 Year Base Rate Tracker FeeSaver (Flexible)
- Bank of England Base Rate (currently 4.75%) plus 0.19% for two years - current rate: 4.94% (5.8% APR) then Bank of England Base Rate plus 0.95% for the life of mortgage
- Customers can borrow up to 95% of the property value
- No product fee
- Free valuation1
- Remortgage customers receive £250 cashback or Free Mortgage Transfer Service2
- Early repayment charge – 3% of the outstanding balance if the mortgage is redeemed in full within two years
- Fully flexible features3
Stephen Leonard, Director of Mortgages at Alliance & Leicester said: "Alliance & Leicester has once again benefited from buying money at lower rates on the money markets and is able to pass these onto our customers with lower interest rates on our latest mortgages. Fixed rate mortgages continue to be extremely popular with both purchase and remortgage customers as well as first time buyers who appreciate the reassurance of a fixed monthly mortgage payment.
"Our new two year Base Rate Tracker Feesaver will appeal to those customers who prefer the transparency of a base rate tracker deal and would like a little help towards arranging their mortgage such as a free valuation and no arrangement fee to pay. Remortgage customers can also benefit from our free mortgage transfer service or £250 cashback."
