Alliance & Leicester launches new near-prime mortgage

10-Jan-2007

Alliance & Leicester has announced the launch of its latest near-prime specialist mortgage, potentially benefiting first time buyers who have had problems with their credit history.

Available with a maximum loan-to-value of up to 80 per cent, the mortgage is available with an interest rate of 6.09 per cent and fixed for two years, providing a degree of security to first time buyers and repeat purchasers unsure about future interest rate rises.

Upon arranging the mortgage, an arrangement fee of £799 is applicable, although clients looking to remortgage can receive a £250 cashback.

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

"Our first re-price of the new year offers a range of market-leading fixed-rate [mortgages] with a fixed arrangement fee," said Mehrdad Yousefi, head of intermediary mortgages at Alliance & Leicester.

Within its specialist mortgage range, Alliance & Leicester has also revised a number of buy-to-let and self-certification mortgages, offering interest rates between five per cent and 5.99 per cent.

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

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