Product category:
Banking / credit / debt
News Release from: Alliance & Leicester | Subject: Banking
Edited by the Insidemoneytalk Editorial
Team on 25 May 2007
New mortgage deals from Alliance and
Leicester
2 year fixed rate at 5.49%
2 year base rate tracker at 5.23%, Reduced rates on Fixed FeeSaver deals, Following Bank of England base rate rise, AandL's SVR to increase, Alliance and Leicester is launching a new range of prime mortgages, which is available from Wednesday 23 May and includes: Two Year Fixed Rate: 5.49% (7.5% APR) fixed until 30 June 2009, then Standard Variable Rate (currently 7.64%), Customers can borrow up to 95% of the property value, Product fee - £599, Early repayment charges apply until 30 June 2009, Maximum loan - £250,000, 10% overpayment facility Two Year Base Rate Tracker: Bank of England Base Rate minus 0.27% for two years, current rate 5.23% (6.5% APR), Customers can borrow up to 95% of the property value, Product fee - £599, Early repayment charges apply in the first two years, Full flexible features, Maximum loan - £999,999
This article was originally published on Insidemoneytalk on 23 Feb 2007 at 8.00am (UK)
Related stories
Council tax payments made easier
West Wiltshire District Council is teaming up with Alliance and Leicester Commercial Bank to provide council tax payers with an additional 19 outlets at which they can make payments.
Free local authority funding seminar in the North West
Alliance and Leicester Commercial Bank is to host a Local Authority seminar titled 'Local Authority Funding - Evaluating the options, offering best value' in the North West.
Improved Five Year Fixed Rate FeeSaver (rate reduced by 0.11%): 5.98% (7.2% APR) fixed until 30 June 2012, then Standard Variable Rate (currently 7.64%), Customers can borrow up to 95% of the property value, No product fee, Free valuation, Remortgage customers receive £250 Cashback or free Mortgage Transfer Service, Early repayment charges apply until 30 June 2012, 10% overpayment facility, Maximum loan - £999,999.
Stephen Leonard, Director of Mortgages at Alliance and Leicester comments: "Our latest range of mortgages offers great value for money to new and existing customers".
"We have a market-leading 2 year base rate tracker priced at 5.23% and we have a highly competitive 2 year fixed rate at 5.49%.We've also improved some of our FeeSaver deals which are ideal for first time buyers who want to minimise up-front fees".
Further reading
Bank named Best Business Current Account Provider for a record fifth year
Alliance and Leicester Commercial Bank has been voted 'Best Business Current Account Provider' by leading independent finance guide Business Moneyfacts for the fifth successive year.
Rent payment service to be made more convenient, says Alliance and Leicester
Extended payment network available to customers of Bootle based One Vision Housing
"These, along with the rest of the range, offer great choice to borrowers, whether they are looking for the security of a fixed rate or the leading headline rate of a variable rate." Alliance and Leicester's SVR Following the decision by the Bank of England to increase the base rate, Alliance and Leicester has announced a 0.25% increase in its SVR for new customers as from Wednesday 23 May.
The SVR will be 7.64% (from 7.39%).
SVR and discounted rate mortgages change for new customers from 23 May and for existing customers on 2 June.
Alliance and Leicester mortgage products that track the Bank of England base rate are also subject to change, increasing by 0.25%.
New tracker products increased from 14 May, with existing borrower products increasing from 1 June.
Alliance and Leicester will be writing to existing mortgage customers to advise them of the change.
Changes will also be made to Alliance and Leicester's savings accounts on 2 June and an announcement regarding this will be made in due course.
• Alliance & Leicester: contact details and other news
• Email this article to a colleague
• Insidemoneytalk Home Page
