Alliance & Leicester launches new range of prime mortgages

Alliance & Leicester is launching a new range of prime mortgages on Wednesday 22 August 2007. They include:

New 2 Year discount deal

5.55% (SVR -2.34%) fixed until 30 September 2009, then Standard Variable Rate (currently 7.89%)
Customers can borrow up to 95% of the property value
Product fee - £599
Early repayment charges apply for first two years
Full flexible features
Maximum loan - £250,000

2 Year Base Rate tracker mortgage

5.44% fixed until 30 September 2009, then BBR +0.99%
Customers can borrow up to 95% of the property value
Product fee - £1,499
Early repayment charges apply for first two years
Full flexible features
Maximum loan - £500,000

Low Start 2 Year Fixed Rate

5.34% (7.6% APR) fixed until 30 September 2009, then BBR + 0.74% for one year, before reverting to SVR (currently 7.89%)
Customers can borrow up to 95% of the property value
Product fee - £999
Early repayment charges apply until 30 September 2010
10% overpayment facility
Maximum loan - £999,999

Richard Taylor, Head of Mortgages at Alliance & Leicester, says: “We have added to our excellent range of products. As always our mortgages offer great value for money and great choice to both new and existing customers - whether they are looking for the security of a fixed rate or the flexibility of a highly competitive variable rate.”