The three are available to intermediaries from 25 January and include:
Two Year Fixed Rate (reduced by 20bps) up to £250,000
- 4.39 per cent (5.5 per cent APR) fixed until 31 March 2008, then Bank of England Base Rate plus 0.99 per cent for the life of the mortgage
- Customers can borrow up to 95 per cent of the property value
- Product fee - £499
- Early repayment charge – 3 per cent of the outstanding balance if the mortgage is redeemed before 31 March 2008
- 10 per cent overpayment facility
Two Year Fixed Rate - FeeSaver
- 4.99 per cent (5.6 per cent APR) fixed until 31 March 2008 then Bank of England Base Rate plus 0.99 per cent for the life of the mortgage
- Customers can borrow up to 95 per cent of the property value
- No product fee
- Free valuation
- Re-mortgage customers receive £250 cashback or Free Mortgage Transfer Service
- Early repayment charge – 3 per cent of the outstanding balance if the mortgage is redeemed before 31 March 2008
- 10 per cent overpayment facility
Three Year Fixed Rate
- 4.64 per cent (5.5 per cent APR) fixed until 31 March 2009 then Bank of England Base Rate plus 0.99 per cent for life of the mortgage
- Customers can borrow up to 95 per cent of the property value
- Product fee - £499
- Early repayment charge – 3 per cent of the amount repaid if the mortgage is redeemed before 31 March 2009
- 10 per cent overpayment facility
Mehrdad Yousefi, head of intermediary mortgages at Alliance & Leicester, said:
“We are firmly committed to the intermediary market and, once again, we have listened to their feedback and have reacted to meet their needs. This latest range of mortgages marks our first re-price of the year and demonstrates our commitment to providing market-leading deals backed up by our highly regarded service. We have taken advantage of the current conditions in the money markets to provide great value for both purchase and remortgage customers.
“Our new two year fixed rate Feesaver will appeal to those who like the security of a set monthly payment and would also 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. We believe this deal represents great value particularly for those on tight budgets.”
