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Cheaper fixed foursome from Alliance & Leicester
22 October 2007 10:30
Alliance & Leicester has reduced the rates on four of its fixed-rate mortgages, as it seeks to offer borrowers the security of low, set repayments over the next few years.
The rates on both its ordinary three and five-year fixed-term products have been slashed from 6.12 to 5.99 per cent, come with attached product fees of £599 each and go onto the lender's standard variable rate at the end of their terms.
Alternatively, Alliance & Leicester is offering FeeSaver versions of both these mortgages, which have also had their rates cut from 6.39 to 6.24 per cent and have no product fee, offer a free valuation and come with either cashback or free mortgage transfer services.
All four products are also available at up to 95 per cent loan-to-value, enable borrowers to overpay on their mortgage by as much as ten per cent each year without penalty and have a maximum loan amount of £1 million.
Head of mortgage products Richard Taylor explained that Alliance & Leicester's newly lowered rates are available to both new and existing customers and are a great option for anyone desiring to fix their mortgage payments over a slightly longer period.
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