They include:
Improved Five Year Fixed Rate
- 4.99% (6.5% APR) fixed until 31st January 2010
- Customers can borrow up to 95% of the property value
- Product fee - £395
- Early repayment charge — 6 months’ gross interest if the mortgage is redeemed before 31st January 2010
- 10% overpayment facility
Improved Two Year Fixed Rate
- 4.79% (6.9% APR) fixed until 31st January 2007
- Customers can borrow up to 95% of the property value
- Product fee - £395
- Early repayment charge — 6 months’ gross interest if the mortgage is redeemed before 31st January 2007
- 10% overpayment facility
New Long Term Base Rate Tracker
- 4.75% (5.9% APR) for one year then Bank of England Base Rate plus 1% for life of the mortgage
- Customers can borrow up to 95% of the property value
- No early repayment charge
- Product fee - £395
- Full flexible features
New Low Start 2 Year Discount FeeSaver
- 2.4% discount off Alliance & Leicester’s Standard Variable Rate (currently 6.84%) for two years, then one year tracking the Bank of England base rate plus 1.25%. Current rate for 2 Years: 4.44% (6.7% APR)
- Early repayment charge -
1 year -1% of the amount repaid
2 years - 2%
3 years - 2%
* Customers can borrow up to 95% of the property value
* No product fee
* 10% overpayment facility
Paul Cooper, Head of Mortgages at Alliance & Leicester said: "Our latest range of mortgages is extremely competitive and demonstrates our ongoing commitment to offer great value mortgage products. Alliance & Leicester is the first lender to re-price its five year fixed rate mortgage at under five per cent. This product represents a fantastic deal to borrowers who want the security of fixed monthly payments over a longer term.
"Our Feesaver option, which is available on most of our mortgages, continues to be a popular choice for first time buyers who like the fact that there is no up-front product fee to pay, cashback to help with legal expenses and a refund of the valuation fee. On all our products customers can borrow up to 95% loan to value."
