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Sep 6, 2006
Alliance &
Leicester is introducing a new line of mortgage products that includes the
following:
Two-Year Base Rate Tracker (rate reduced by 0.06%) – this product is
available at Bank of England Base Rate minus 0.22% for two years. For just a
£599 product fee, customers can borrow up to 95% of the property value. Early
repayment fee is just 3% of the loan (if the mortgage is redeemed in full
during the two year offer period) and maximum loanable amount is £250,000.
Two-Year Fixed FeeSaver Rate (rate reduced by 0.05%) - this product is
available at 5.44% (6.8% APR) fixed until 30 September 2008, then Standard
Variable Rate currently pegged at 6.84%. With no product fees, customers can
borrow up to 95% of the property value. A&L offers free valuation and an
early repayment charge of 3% of the outstanding balance if the mortgage is
redeemed before September 30, 2008. Maximum loanable amount is £999,999.
Three-Year Fixed Rate – this product features a 5.14% (6.6% APR) rate
fixed until September 30, 2009, then Standard Variable Rate currently pegged at
6.84%. Customers can borrow up to 95% of the property value with an early
repayment charge of 3% of the outstanding balance if the mortgage is redeemed
before 30 September 2009. Product fee is £499 and maximum loanable amount is
£999,999.
Five-Year Fixed Rate – this mortgage features a 5.19% (6.4% APR) fixed
until 30 September 2011, then Standard Variable Rate (currently 6.84%) applies.
Customers can borrow up to 95% of the property value with an early repayment charge of 3% of the outstanding balance if the mortgage
is redeemed before September 30, 2011. Product fee is £499 and maximum loanable
amount is £999,999.
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