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Jul 18, 2006
Alliance &
Leicester has tapped the expertise of Premier Mortgage Service (PMS), UK’s largest
mortgage facilitator, to launch a range of specialist mortgage products,
including buy-to-let, self-certification and near-prime mortgages.
The Prime
Buy-to-Let Two Year Base Rate Tracker offers the Bank of England Base Rate plus
0.49% until September 30, 2008, followed by the Bank
of England Base Rate plus 1.99% afterwards. Customers can borrow up to 75% of
the property value and maximum loan is £500,000. Product fee is £699.
The Prime
Self-Certified Two Year Fixed Rate features 4.90% (6.5% APR) fixed until September 30, 2008, then
Bank of England Base Rate plus 1.99% applies for the life of the mortgage. Customers
can borrow up to 85% of the property value with maximum loan pegged at
£300,000. Product fee is £1,999.
The Certified
Near-Prime Two Year Fixed Rate offers 5.75% (6.7% APR) fixed until September 30,
2008, then Bank of England Base Rate plus 1.99% applies for the life of the
mortgage. Customers can borrow up to 80% of the property value for a maximum
loan of £500,000. Product fee is £699.
A&L also
offers free valuation, early repayment charge and a £250 cashback for
remortgage customers.
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