Alliance & Leicester: New mortgage rates
Monday, 07 Apr 2008 13:52
Alliance & Leicester is introducing new residential and buy-to-let mortgage products from Tuesday April 8th.
The lender is bringing in a new two-year fixed rate deal at 5.84 per cent – compared with the current rate of 5.69 per cent.
The mortgage is up to 90 per cent loan-to-value (LTV) and comes with an arrangement fee of £999.
The maximum loan size is £250,000 and overpayment of ten per cent a year is allowed.
Alliance & Leicester is also bringing in a two-year fixed rate buy-to-let mortgage at 5.54 per cent, which converts to 2.14 per cent over the base rate after the teaser rate expires.
The maximum loan size is £500,000 and the maximum LTV is at 85 per cent.
Arrangement fees stand at 2.5 per cent, while ten per cent annual overpayment is allowed.
Richard Taylor, head of mortgages at Alliance & Leicester comments: “This new range of mortgage products continue to present a good choice of residential and buy-to-let products with customers being offered a choice of rates, product fees and the term they would like their mortgage to run.”