Money News
Alliance & Leicester has announced the launch of a new range of mortgages.
First up is a new stepped mortgage facility charging a fixed 4.99% (7.6% APR) for 2 years, then tracking Bank of England Base Rate + 0.74% for 1 year (currently 5.99%), then the standard variable rate (currently 7.39%). Maximum LTV is 95% with a product fee of £999 applying. Maximum loan is £999,999.
An early repayment charge of 3% of the outstanding balance (if the loan redeemed during the 3 year offer period) is in force.
A 10% overpayment facility is available.
Next up is a remortgage 2-year base rate tracker facility charging Bank of England Base Rate (BBR) - 0.12% for 2 years - giving a current rate of 5.13% (6.3% APR) - then tracking BBR + 0.99% (currently 6.24%). Maximum LTV is 90% with a £599 product fee applying.
An early repayment fee of 3% of the outstanding balance (if the loan is redeemed during the 2 year offer period) will apply.
The facility comes with a free valuation and £250 cashback or mortgage transfer service.
Maximum loan is £999,999.
Finally, a new 5-year discount offer is being made available - this deal giving a 2.16% discount off A&L's standard variable rate (currently 7.39%) for 5 years - current rate: 5.23% (6.7% APR)
An early repayment fee of 3% of the outstanding balance (if the mortgage is redeemed during the offer period) is in force.
Maximum LTV is 95% with a £599 arrangement fee in operation.
28 February 2007 © Moneyextra.com
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