Alliance & Leicester launches new fixed-rate mortgages

23-Jan-2007

Alliance & Leicester has announced the launch of a new range of fixed-rate mortgages, which may be of interest to first time buyers.

Potentially shielding first time buyers from future interest rate rises for between two and three years, the new fixed-rate mortgages offer an interest rate of 5.24 per cent for the first two years and 5.44 per cent for the three year option.

Available with a loan-to-value of up to 95 per cent, both mortgages allow overpayment up to ten per cent of the total amount borrowed and will revert to the lender's standard variable rate - currently 7.39 per cent - after the discounted period.

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

"We continue to present a range of mortgages that offer great choice and value," said Stephen Leonard, director of mortgages at Alliance & Leicester.

"Our fixed rates remain competitive and we have a two-year fixed-rate deal … priced below the Bank of England Base Rate [of 5.25 per cent]," he added.

The lender has today increased its standard variable rate by 0.3 per cent to 7.39 per cent for all new customers.

Alliance & Leicester offers a range of financial products and services, including credit cards and current accounts.

2008: May | Apr | Mar | Feb | Jan

2007: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2006: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2005: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar