Alliance and Leicester new range of mortgages

Thu, 24 May 2007

A fresh new range of mortgage loans from Alliance and Leicester apparently offer ‘great value for money ’ to both their new and existing customers. The revision in choice and price of mortgages offered comes following another Bank of England base rate rise, but many of the deals seem to have been enhanced.

According to A&L, their two-year fixed-rate and base rate tracker loans are offered at 5.48 and 5.23 per cent. Furthermore, the lender claims, for an arrangement fee of £599, customers may be able to borrow up to 95 per cent loan to value.

A&L have prioritised flexibility with their new loans, and the fixed-rate mortgage comes with a 10 per cent overpayment facility. The director of mortgages at Alliance and Leicester, Stephen Leonard, reportedly commented that the new set of home loans providers: "great choice to borrowers, whether they are looking for the security of a fixed rate or the leading headline rate of a variable rate ."
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