Product category:
Mortgages / Housing
News Release from: Alliance & Leicester | Subject: Mortgages
Edited by the Insidemoneytalk Editorial
Team on 07 March 2008
New mortgage deals from Alliance and
Leicester from 5 March
Alliance and Leicester is launching a new range of residential and Buy to Let products, which are available from Wednesday 5 March 2008.
The range includes new three and five year fixed rate products and a new Base Rate tracker remortgage offer The bank has also been able to maintain the rates on many of its existing fixed rate products
This article was originally published on Insidemoneytalk on 22 Feb 2007 at 8.00am (UK)
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Three Year Fixed Rate - 5.35%: 5.35% fixed until 30 April 2011, then Standard Variable Rate.
Customers can borrow up to 90% of the property value.
2% arrangement fee.
Further reading
Alliance and Leicester is enhancing its range of specialist mortgages.
The new specialist mortgage range is available from Wednesday 7 March and includes:
Alliance and Leicester comments on today's MPC decision to maintain base rate at 5.25%
Stephen Leonard, Director of Mortgages at Alliance and Leicester:
Maximum loan - £1 million.
10% overpayment facility.
Five Year Fixed Rate - 5.79%: 5.79% fixed until 30 April 2013, then Standard Variable Rate.
Customers can borrow up to 90% of the property value.
2% arrangement fee.
Maximum loan - £1 million.
10% overpayment facility.
Two Year Remortgage Base Rate Tracker - 6.04%: 6.04% (BBR +0.79%), then Base Rate +0.99%.
Customers can borrow up to 90% of the property value.
2% arrangement fee.
Maximum loan - £1 million.
No early repayment charge.
Free valuation[1] £250 cashback or Mortgage Transfer Service[2].
Full flexible features[3].
Buy to Let Two Year Fixed Rate - 5.34% (previously 5.44%): 5.34% fixed until 30 April 2010, then Base Rate +2.14%.
Customers can borrow up to 85% of the property value.
2.50% arrangement fee.
100% rental cover at Pay Rate up to 75% LTV; up to 115% rental cover at Pay Rate (with earned income) or 120% rental cover at Pay Rate (no earned income).
Maximum loan - £500,000.
10% overpayment facility.
Buy to Let Two Year Fixed Rate - 6.29% 6.29% fixed until 30 April 2010, then Base Rate +2.14%.
Customers can borrow up to 85% of the property value.
£999 arrangement fee.
100% rental cover at Pay Rate up to 75% LTV; up to 115% rental cover at Pay Rate (with earned income) or 120% rental cover at Pay Rate (no earned income).
Maximum loan - £250,000.
10% overpayment facility.
Richard Taylor, Head of Mortgages at Alliance and Leicester comments: "The introduction of these new products reinforces Alliance and Leicester's commitment to the mortgage market." The new remortgage Base Rate Tracker product is a good option for people who are coming to the end of their existing deal as it will allow them to move to Alliance and Leicester at a low cost.
"We have a further addition to our Buy to Let portfolio with a fixed fee product to help landlords with smaller mortgages and we have reduced the rates on our existing two and three year fixed rate products, offering landlords a choice of rate, fee and term in which to fix their payments." 1.
Free valuation - efunded upon completion.
2.
Mortgage Transfer Service - offers convenience for customers, speeds up the remortgage process and helps to remove or lower the associated legal costs.
3.
Full flexible features - allows customers to overpay every month by any amount, or in lump sums of £500 or more.
With the overpayment 'credit' customers can build up they can borrow money back, take payment holidays or pay less in some months.
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