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Alliance & Leicester launches mortgage deals

Amanda Jarvis

January 24, 2005

– Choice of fixed rate, discount or base rate tracker deals
– £150 bonus procuration fee for every full mortgage application submitted between 20 January and 31 March that goes on to completion

Two Year Discount FeeSaver (Fully Flexible)
– 1.70% discount off Alliance & Leicester’s Standard Variable Rate (currently
6.84%) for two years. Current rate for 2 Years: 5.14% (6.8% APR)
– No product fee
– Early repayment charge – Year One and Two – 3% of the amount repaid
– Free valuation_
– £250 cashback or Free Mortgage Transfer Service2
– Full flexible features3

Base Rate Tracker Feesaver (Fully Flexible)
– 4.99% (5.6% APR), 0.24% above Bank of England Base Rate for 1 year, then Bank of England Base Rate plus 0.75% for the remaining term
– Customers can borrow up to 95% of the property value
– No product fee
– Early repayment charge – Year One – 3% of the amount repaid
– Free valuation
– £250 cashback or Free Mortgage Transfer Service
– Full flexible features

Two Year Fixed Remortgage Rate
– 4.89% (5.8% APR) fixed until 30 April 2007 then Bank of England Base Rate plus 0.75% for the remaining term
– Customers can borrow up to 95% of the property value
– Product fee – £395
– Early repayment charge – 3% of the amount repaid if the mortgage is redeemed before 30 April 2007
– Free Mortgage Transfer Service or £250 cashback
– 10% overpayment facility

2 Year Flexible Discount
– 2.2% discount off Alliance & Leicester’s Standard Variable Rate (currently
6.84%) for two years. Current rate for 2 Years: 4.64% (6.7% APR)
– Product fee – £395
– Early repayment charge – Year One and Two – 3% of the amount repaid
– Full flexible features

Merhdad Yousefi, Head of Intermediary Mortgages at Alliance & Leicester said: “Our latest range of mortgages demonstrates our continued commitment to offering intermediaries great value and innovative mortgage products.

“We have introduced full flexible features on many of our discounted products to give customers the opportunity to benefit from overpaying, underpaying and taking payment holidays. We have introduced a new two year fixed rate which includes a free mortgage transfer service which will appeal to remortgage customers who want a great rate whilst keeping their initial set up costs low.

“And as recognition to our ongoing support to the intermediary market A&L is offering an additional £150 bonus procuration fee for every full mortgage application submitted from now until 31 March 2005 that goes on to completion.”


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