Alliance & Leicester launches new near prime mortgage

13-Apr-2007

Alliance & Leicester has announced the launch of its new near prime mortgage, which may be of interest to would-be first time home buyers.

Available from today, the new mortgage offers an interest rate of 5.99 per cent, fixed over a period of two years and is available to both first time home buyers and repeat purchasers.

"We've introduced some new lower-priced [products] with fixed arrangement fees giving brokers even more choice," said Jeremy Claridge, head of specialist mortgages at Alliance & Leicester.

"Our latest range is extremely competitive," he added.

The mortgage is available with a loan-to-value up to 80 per cent and carries an arrangement fee of £999.

To find out more about this mortgage and other mortgages for first time buyers, click here.

Also available today from Alliance & Leicester is a new self-certified two-year base rate tracker mortgage product.

Alliance & Leicester was established in 1997.

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