Alliance & Leicester: New remortgage deals

Friday, 09 January 2009 12:00

Alliance & Leicester has unveiled three new remortgage deals, which start at 3.69 per cent, and are available exclusively through intermediaries.

The bank is offering a two-year fixed-rate remortgage deal at 3.89 per cent via Legal & General. The mortgage comes with a £1,499 fee and is for loans of up to 60 per cent of the property's value, up to a maximum of £250,000.

Meanwhile it is also selling, through Openwork, a two-year fixed-rate deal at 4.49 per cent of loan-to-values (LTV) of 70 per cent. There is a £599 fee and a loan of up to £500,000 is permitted.

Finally, through PMS, it is offering another two-year fixed-rate remortgage deal at the slightly lower rate of 3.69 per cent. This is for LTVs of 60 per cent with a maximum loan of £1 million. There is a 1.5 per cent arrangement fee.

All come with a choice of £200 cashback or free legal fees as well as a refunded valuation fee.

Adrian Whittaker, of Alliance & Leicester, said the new deals highlighted the lender's "increased appetite" for mortgage lending in 2009 and its commitment to the intermediary market.

He added: "These products are sure to perform well in the market place and they complement the mortgage offers in our mainstream range."

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