Improved Low Start Discounted Rate (reduced by 0.4%)
* 2.8% discount off Alliance & Leicester's Standard Variable Rate (currently 6.59%) for two years, then one year tracking the Bank of England base rate plus 1.25% - current rate: 3.79% (6.4% APR)
* Early repayment fee -
Year 1 - 1% of the amount repaid
Year 2 - 2%
Year 3 - 2%
* Customers can borrow up to 95% of the property value
* Arrangement fee - £395
* 10% overpayment facility
New Five Year Discount
* 2% discount off Alliance & Leicester's Standard Variable Rate (currently 6.59%) for five years - current rate: 4.59% (6.1% APR)
* Early repayment fee - 6 months' gross interest if the mortgage is redeemed during the discounted rate period
* Customers can borrow up to 95% of the property value
* Arrangement fee - £395
* 10% overpayment facility
Continued - Five Year Fixed Rate
* 5.59% ( 6.6% APR) fixed until 31st October 2009
* Customers can borrow up to 95% of the property value
* £595 arrangement fee
* Early repayment fee - 6 months' gross interest if the mortgage is redeemed before 31st October 2009
* 10% overpayment facility
Paul Cooper, Head of Mortgages at Alliance & Leicester said: "At a time when interest rates are rising, many of our mortgage rates are going down and offer great value for money. Our new and improved mortgage offers complement our core fixed and discounted rate mortgages. We continue to offer one of the most competitive five year fixed rate deals available which will appeal to customers who are looking for security and budgetary certainty. Whilst, customers who are looking for low variable rates will be attracted to the two year and five year discounted variable rates."
For further information on Alliance & Leicester mortgage offers, customers should visit their local Alliance & Leicester branch, speak to their intermediary, call Mortgage Direct on 0845 303 3000 (8am - 9pm Monday to Friday,
9am - 5pm Saturday, 10am - 4pm Sunday) or go online at www.alliance-leicester.co.uk
