Alliance & Leicester offers help for homebuyers

Alliance & Leicester Mortgages has launched a best-buy first time buyer only mortgage at 85 per cent LTV. The new deal, a 3-year fix at 5.99 per cent with no fee is for all first time buyers and includes the Homebuyer solution (a free valuation) and has a maximum loan size of £250,000.

Nici Audhlam-Gardiner, Alliance & Leicester Mortgages Director, commented: "It's hard enough for struggling first time buyers to get onto the property ladder at the moment. That's why we've launched this best-buy deal and, as every penny counts, with no fees, first time buyers have one less thing to worry about. Alliance & Leicester Mortgages research shows there are 1.8 million prospective first time buyers with a deposit just waiting to get onto the property ladder that can take advantage of this great rate whilst rates are low and guarantee certainty of their monthly payments. "

In addition, the lender's 2-year fix at 3.64 per cent (available up to 65 per cent LTV) and 2-year fix at 3.89 per cent (available up to 75 per cent LTV), both with a fee of £995, now come with a free valuation for homebuyers.

Alliance & Leicester continues to reward loyal customers by extending the Premier range available to current account customers, with a new 4 year fixed rate mortgage at 75 per cent LTV with a rate of 4.69 per cent. This also includes the Homebuyer solution and is available up to a maximum loan size of £550,000.