The enhanced products include:
- Two-year fixed rate (reduced by 0.05 per cent)
4.64 per cent (6.7 per cent APR) fixed until 31 October 2008, then standard variable rate (SVR), currently 6.84 per cent
Customers can borrow up to 95 per cent of the property value
Product fee - £999
Early repayment charge – 3 per cent of the outstanding balance if the mortgage is redeemed before 31 October 2008
Maximum loan - £250,000
10 per cent overpayment facility
- Five-year fixed rate (reduced by 0.1 per cent)
5.09 per cent (6.3 per cent APR) fixed until 31 October 2011, then SVR, currently 6.84 per cent
Customers can borrow up to 95 per cent of the property value
Product fee - £599
Remortgage package – free valuation and either free mortgage transfer service or £250 cashback
Early repayment charge – 3 per cent of the outstanding balance if the mortgage is redeemed before 31 October 2011
Maximum loan - £250,000
10 per cent overpayment facility
- Two-year base rate tracker (same rate but remortgage package added)
Bank of England Base Rate minus 0.26 per cent for two years, current rate 4.49 per cent (5.7 per cent APR) then Bank of England Base Rate plus 0.99 per cent, currently 5.74 per cent
Customers can borrow up to 95 per cent of the property value
Product fee - £699
Early repayment fee - 3 per cent of the loan if the mortgage is redeemed during the two year offer period
Remortgage package – free valuation and either free mortgage transfer service or £250 cashback
Maximum loan - £250,000
Full flexible features
Mehrdad Yousefi, head of intermediary mortgages at Alliance & Leicester, commented: “Despite volatility in swap rates we’ve been able to reduce some of our fixed rate mortgages. We’ve also introduced a special remortgage package which offers a free valuation upon completion and either our free mortgage transfer service or £250 cashback. This package will appeal to those who are looking for a competitive remortgage deal with minimal up-front costs. The remortgage market continues to be extremely competitive and it’s a great time for those nearing the end of their existing deal to shop around for an attractive rate with some money saving extras.”
