New Alliance & Leicester mortgage deals unveiled

New Alliance & Leicester mortgage deals have been unveiled, to be available from today onwards.

Alliance & Leicester promises its mortgages offer highly competitive fixed-rate deals as well as a reduced rate on a remortgage exclusive product.

The two-year fixed-rate is offered at 4.64 per cent (5.6 per cent APR) and is fixed until August 31st 2007, after which time it will consist of the Bank of England base rate plus 0.75 per cent for the rest of the term.

Customers are able to borrow up to 95 per cent of the property value and can benefit from an early repayment charge of three per cent of the amount repaid if the mortgage is redeemed before August 31st 2007.

The five-year fixed-rate mortgage is fixed at 4.84 per cent (5.5 per cent APR) until August 31st 2010, after which it is also the Bank of England base rate plus 0.75 per cent. The same benefits apply.

Stephen Leonard, director of mortgages at Alliance & Leicester said: "Our latest mortgage re-price offers a highly competitive range of fixed and tracker mortgages.

"Our fixed rate products will suit those people who are looking for budgetary certainty from their monthly mortgage payments, whilst our trackers will suit those who prefer a variable rate.

"Our range includes deals for those people looking to buy or move home, as well as for those who simply want to take advantage of competitive rates by remortgaging."