Alliance & Leicester launch prime range

Available from 22 August, the new products include:

New two-year discount deal

• 5.55% (SVR -2.34%) fixed until 30 September 2009, then Standard Variable Rate (currently 7.89%)
• Customers can borrow up to 95% of the property value
• Product fee - £599
• Early repayment charges apply for first two years
• Full flexible features(1)
• Maximum loan - £250,000

Two-year Base Rate tracker mortgage

• 5.44% fixed until 30 September 2009, then BBR +0.99%
• Customers can borrow up to 95% of the property value
• Product fee - £1,499
• Early repayment charges apply for first two years
• Full flexible features(1)
• Maximum loan - £500,000

Low start two-year fixed rate

• 5.34% (7.6% APR) fixed until 30 September 2009, then BBR + 0.74% for one year, before reverting to SVR (currently 7.89%)
• Customers can borrow up to 95% of the property value
• Product fee - £999
• Early repayment charges apply until 30 September 2010
• 10% overpayment facility
• Maximum loan - £999,999

Richard Taylor, head of mortgages at Alliance & Leicester, said: "We have added to our excellent range of products. As always our mortgages offer great value for money and great choice to both new and existing customers - whether they are looking for the security of a fixed rate or the flexibility of a highly competitive variable rate."