Alliance & Leicester launches new mortgage range
by Gill Montia
Alliance & Leicester has revamped its mortgage offering and is providing a range of new loans that became available from 3rd June.
The range comprises a two-year base rate tracker at 5.89% (BBR +0.89), reverting to base rate +1.49%. The loan-to-value ratio is 75% and the arrangement fee is 2% of the loan. Maximum loan £1 million. No early repayment charge.
Two-year fixed-rate at 6.14% (until 31st August 2010) reverting to lender’s standard variable rate. Loan-to-value ratio 75%. Product arrangement fee 2%. Maximum loan £1 million and there is an overpayment facility of 10%.
Five-year fixed-rate at 7.14% (until 31st August 2013) reverting to lender’s standard variable rate. Loan-to-value ratio 90%. Product arrangement fee £599. Maximum loan £1 million, overpayment facility 10%.
The mortgages are available via the lender’s branches, call centres and also through mortgage intermediaries.
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