London, United Kingdom (PressExposure) December 17, 2008 -- Alliance & Leicester is announcing a new portfolio of mortgage products, with fixed rate mortgages being reduced by up to 0.90%. The new products will be available from Thursday 4 December 2008 and include:
Two Year Fixed Rate 4.94% (previously 5.79%) â¢ Fixed until 31 December 2010 â¢ Â£599 product arrangement fee â¢ Customers can borrow up to 75% of the property value â¢ 10% overpayment facility â¢ Maximum loan Â£250,000
Two Year Fixed Rate 4.99% (previously 5.59%) â¢ Fixed until 31 December 2010 â¢ 1% product arrangement fee â¢ Customers can borrow up to 75% of the property value â¢ 10% overpayment facility â¢ Maximum loan Â£1 million
Two Year Fixed Rate FeeSaver 5.49% (previously 6.39%) â¢ Fixed until 31 December 2010 â¢ No product fee â¢ Customers can borrow up to 75% of the property value â¢ 10% overpayment facility â¢ Maximum loan Â£1 million â¢ Free valuation1 â¢ Remortgage customers get Â£200 cashback or free Mortgage Transfer Service2
Richard Taylor, Head of Mortgage Products at Alliance & Leicester, comments: âI am delighted to announce these rate reductions to our fixed rate mortgage products, and I am sure they will be very appealing to customers. We offer a range of products with different arrangement fee levels or even no fee at all meaning customers can select the mortgage that best suits their needs.â
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Notes to Editor:
1Free valuation â refunded upon completion
2Mortgage Transfer Service â offers convenience for customers, speeds up the remortgage process and helps to remove or lower the associated legal costs.
For further information mortgage brokers should visit www.al.intermediary.co.uk or call 0844 8009999.
Alliance & Leicester was named as Best Discounted Rate Mortgage Provider of the year by Moneyfacts. Alliance & Leicester was named as Best Lender for First Time Buyer Products at the Legal & General Mortgage Club Awards. Alliance & Leicester was highly commended as Best Remortgage Provider by Moneyfacts. Alliance & Leicester named Best Current Account Provider (in credit interest) and Best Current Account Provider (debit interest) for the third consecutive year by Moneyfacts
Alliance & Leicester is now part of the Santander Group, which has more than 150 years' experience in banking, and more branches worldwide than any other international bank. Banks in the Santander Group are committed to serving our customers and helping them make the most of their money. In 2008 Santander won the Euromoney 'Best Global Bank' award.