New lower fixed rate mortgage deals from Alliance and Leicester

Edited by the Insidemoneytalk editorial team Oct 19, 2007

Alliance and Leicester's Mortgage deals are re-priced and rates on fixed rates are reduced. The new offers, available via the Bank's branches, Mortgage Direct and brokers from Oct 07, include:

Three Year Fixed Rate 5.99% (previously 6.12%) Fixed until 30 November 2010, then Standard Variable Rate (currently 7.89%) Product fee - £599 Customers can borrow up to 95% of the property value Early repayment charges apply until 30 November 2010 10% overpayment facility Maximum loan £1 million Three Year Fixed Rate - FeeSaver 6.24% (previously 6.39%) Fixed until30 November 2010, then Standard Variable Rate (currently 7.89%) No product fee Customers can borrow up to 95% of the property value Early repayment charges apply until 30 November 2010 10% overpayment facility Maximum loan £1 million Free valuation1 Remortgage customers get £250 Cashback or free Mortgage Transfer Service2 Five Year Fixed Rate 5.99% (previously 6.12%) Fixed until 30 November 2012, then Standard Variable Rate (currently 7.89%) Product fee - ?599 Customers can borrow up to 95% of the property value Early repayment charges apply until 30 November 2012 10% overpayment facility Maximum loan £1 million Five Year Fixed Rate - FeeSaver 6.24% (previously 6.39%) Fixed until 30 November 2012, then Standard Variable Rate (currently 7.89%) No product fee Customers can borrow up to 95% of the property value Early repayment charges apply until 30 November 2012 10% overpayment facility Maximum loan £1 million Free valuation1 Remortgage customers get £250 cashback or free Mortgage Transfer Service Richard Taylor, Head of Mortgage Products at Alliance and Leicester, said: "We are reducing the prices on our three and five year fixed rate mortgages, which is great news for those wanting to fix their mortgage payments for a longer period.

"These deals are available to both new and existing customers, with the option of a lower rate and a fee of just ?599 or a slightly higher rate and the benefit of no fees, as well as free valuation and legal fees.".