Alliance & Leicester launches new buy to let mortgages

Alliance & Leicester is launching a new range of residential and Buy to Let products, which will be available via brokers, branches and Mortgage Direct from Friday 11 April 2008.

The range includes:

Two Year Fixed Rate - 5.74%

5.74% fixed until 30 June 2010, then Standard Variable Rate
Customers can borrow up to 90% of the property value
2% product arrangement fee
Maximum loan £1 million
10% overpayment facility

Fixed Rate Fee Savers - 6.59%

Two Year Fixed until 30 June 2010, then Standard Variable Rate
Three Year Fixed until 30 June 2011, then Standard Variable Rate
Five Year Fixed until 30 June 2013, then Standard Variable Rate
Customers can borrow up to 90% of the property value
No product fee
Maximum loan - £1 million
10% overpayment facility
Free valuation
£200 cash back or Mortgage Transfer Service for remortgage customers

Richard Taylor, Head of Mortgages at Alliance & Leicester comments: "Our new range of Prime and Buy to Let mortgages is available from Friday 11 April. These deals are available to both new and existing customers."