Two and five year fixed rates are cut by 0.20% and three year fixed rate deals are now 0.15% lower.
The new offers are available from today via brokers, Alliance & Leicester branches and by telephone from Mortgage Direct and include:
Two Year Fixed Rate 5.59% (previously 5.79%)
- Fixed until 31 December 2010, then Standard Variable Rate (currently 6.94%)
- 1% product arrangement fee
- Customers can borrow up to 75% of the property value
- 10% overpayment facility
- Maximum loan £1 million
Five Year FeeSaver Fixed Rate 6.39% (previously 6.59%)
- Fixed until 31 December 2013, then Standard Variable Rate (currently 6.94%)
- No product fee
- Customers can borrow up to 75% of the property value
- 10% overpayment facility
- Maximum loan £1 million
- Free valuation
- Remortgage customers get £200 cashback or free Mortgage Transfer Service
Three Year Fixed Rate 5.79% (previously 5.94%)
- Fixed until 31 December 2011, then Standard Variable Rate (currently 6.94%)
- £599 product arrangement fee
- Customers can borrow up to 75% of the property value
- 10% overpayment facility
- Maximum loan £1 million
Richard Taylor, Head of Mortgage Products at Alliance & Leicester, comments: “Lower Swap rates mean we have been able to cut our fixed rate mortgage products, which is great news for those looking for a new deal of up to 75% of the value of their home. Our fixed rate mortgages offer competitive rates for those who seek budgetary certainty by fixing their monthly payments.”
