The mortgages, which are available immediately, include:
2 Year Fixed Rate
* 3.49% (5.5% APR) fixed until 31 October 2005
* Customers can borrow up to 95% of the property value
* Early repayment fee - 6 months' gross interest if the mortgage is redeemed during the fixed rate period
* Arrangement fee - £345
* Plus - First time buyers, customers moving home and existing A&L mortgage customers moving home receive additional incentives*
5 Year Fixed Rate
* 4.15% (5.3% APR) fixed until 31 October 2008
* Customers can borrow up to 95% of the property value
* Early repayment fee - 6 months' gross interest if the mortgage is redeemed during the fixed rate period
* Arrangement fee - £595
* Plus - First time buyers, customers moving home and existing A&L mortgage customers moving home receive additional incentives*
7% Cashback Lifetime Base Rate Tracker
* 5.25% (5.6% APR) - Bank of England Base Rate plus 1.75%, current rate 3.5%
* All customers receive cashback equivalent to 7% of mortgage loan amount
* Customers can borrow up to 90% of the property value
* No arrangement fee
* Early repayment fee linked to the benefit the customer has received and reducing year on year:
* Year 1 - 7% of the loan
* Year 2 - 6% of the loan
* Year 3 - 5% of the loan
* Year 4 - 4% of the loan
* Year 5 - 3% of the loan
* Year 6 - 2% of the loan
* Plus - First time buyers, customers moving home and existing A&L mortgage customers moving home receive a free valuation1
Paul Cooper, Head of Mortgages at Alliance & Leicester commented: "The mortgage market continues to be extremely competitive. Our range of fixed rate mortgages are designed to meet the needs of those customers who are looking for security and budgetary certainty whilst still providing highly competitive rates. The additional incentives offered to many customers will help to greatly reduce the cost of taking out a mortgage. First time buyers in particular can benefit from our offer of £250 cashback and a free valuation."
For further information on Alliance & Leicester mortgage offers go on-line at www.al.intermediary.co.uk
