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Wednesday 23rd of December 2009

News Tag: A&L

September 7, 2009

Santander offers £100 to new customers

by David Masters
”Santander
Abbey and Alliance & Leicester (A&L;) are offering new customers a £100 incentive to switch to their current accounts. The Santander-owned banks are offering the bonus to new customers opening an Abbey Preferred Overdraft Rate account or an A&L; Premier Account from today. To receive the cash bonus, customers must fund the account with a minimum of £500 per month at A&L;, or ...



April 26, 2009

A&L launches two-year tracker at 2.95%

by Gill Montia
A&L launches two-year tracker at 2.95%
Alliance & Leicester (A&L;) has launched a two-year tracker at 2.45% above base rate (currently 2.95%). The mortgage is available to both homebuyers and remortgagers who can stump up a deposit of at least 25%. It comes with a fee of £499 and the maximum loan size is £250,000. According to the lender's director of mortgages, Nici Audlam-Gardiner, research shows that among remortgagers, ...



March 20, 2009

Alliance & Leicester: ISAs are too complicated

by David Masters
Alliance & Leicester: ISAs are too complicated
Many people in the UK find individual savings accounts (ISAs) confusing, according to new research by Alliance & Leicester. The building society found that 71% of Brits did not know that the current Cash ISA allowance is £3,600. One in five (19%) of those questioned believed that the allowance was still £3,000. Nearly half of those polled (43%) didn't have any money in ...



December 3, 2008

A&L cuts rates on two-year fixes

by Gill Montia
A&L cuts rates on two-year fixes
Alliance & Leicester (A&L;) has unveiled a new range of fixed-rate mortgages, available from 4th December. The lender, which is part of the Santander group, is reducing rates by up to 0.90%. Its offering includes a two-year deal at 4.94% (previously 5.79%), fixed until 31st December 2010. Customers can borrow up to 75% of a property's value and the maximum loan size is £250,000; ...



October 22, 2008

A&L cuts standard variable rate by 0.25%

by Gill Montia
A&L cuts standard variable rate by 0.25%
Alliance & Leicester (A&L;) has cut its Standard Variable Rate (SVR) from 7.19% to 6.94%. The 0.25% reduction applies from 30th October; existing customers on the lender's SVR and those with SVR discounted loans will see their monthly payments change from 2nd November. The bank is also advising borrowers with base rate tracker loans that rates will fall by 0.50% from 1st ...



October 7, 2008

Record fine for A&L for mis-selling PPI

by Kay Murchie
”Record
The Financial Services Authority (FSA) has given Alliance & Leicester (A&L;) a record fine of £7 million for mis-selling payment protection insurance (PPI). The FSA found that the bank had trained its staff to put pressure on customers who questioned the inclusion of optional PPI in a loan. During the period January 2005 to December 2007, A&L; sold around 210,000 ...



August 27, 2008

A&L launches new deals and cuts rates

by Gill Montia
A&L launches new deals and cuts rates
Alliance & Leicester (A&L;) is reducing interest rates for most of its mortgage products, with immediate effect. Cuts of between 0.10% and 0.55% across all but one of the bank's home loans are accompanied by the launch of a two-year fixed-rate deal at 5.99%, which is available to both new and existing customers. A 1% arrangement fee applies and loan-to-value (LTV) ...



August 19, 2008

A&L encourages shareholders to vote for Santander deal

by Kay Murchie
”A&L
Former building society, Alliance & Leicester (A&L;) has sent information to its 564,000 shareholders on the £1.3 billion proposed takeover by Spanish bank, Santander. Roy Brown, acting A&L; chairman, is strongly encouraging shareholders to vote for the deal and has warned if the move is rejected by shareholders, the bank would be exposed to the worsening economic slowdown. The bank ...



August 1, 2008

Half-year profits at A&L almost wiped out

by Kay Murchie
”Half-year
UK mortgage lender, Alliance & Leicester (A&L;), has announced that half-year profits have nearly been wiped out after taking a £209 million hit on risky assets and higher funding costs. Pre-tax profits for the first half of 2008 plummeted to £2 million, compared with £290 million in the same period of 2007. The worldwide credit crisis was responsible for the ...



July 14, 2008

Santander to boost UK presence with Alliance & Leicester takeover

by Kay Murchie
”Santander
Shares in Alliance & Leicester (A&L;) have rocketed 47% this morning after it has been revealed that Spanish bank Santander has agreed a deal to buy the former building society in a deal worth £1.3 billion. Shares in A&L; suffered, particularly last year, after many believed it would follow in the footsteps of Northern Rock as out ...



June 4, 2008

Alliance & Leicester launches new mortgage range

by Gill Montia
Alliance & Leicester launches new mortgage range
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 ...



May 14, 2008

Alliance & Leicester in £391m write-down

by Kay Murchie
”Alliance
Alliance & Leicester (A&L;), has announced it will write-down £391 million on treasury investments as well as on its exposures to structured investment vehicles and collateralised debt obligations, of £192 million. Furthermore, treasury investment fair-values declined £199 million in the first 4 months, against a fall of £147 million in the same period last year. This fair-value impact is taken against ...




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