Alliance & Leicester Five-Year Fixed-Rate mortgage available

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www.moneynews.co.uk > Mortgages > Alliance & Leicester Five-Year Fixed-Rate mortgage available

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Alliance & Leicester Five-Year Fixed-Rate mortgage available

An Alliance & Leicester Five-Year Fixed-Rate mortgage is currently on the market, with an interest rate set at 4.74 per cent until March 31st 2011.

At this point interest on the deal will revert to the standard variable rate at the time - currently 5.49 per cent, product website Mortgage Introducer reports.

If any or all of the mortgage is repaid during the five-year fixed-rate period an early repayment charge will come into effect.

A valuation fee of £280 and an arrangement fee of £499 are set on the scheme and both of these can be added to the complete amount of the loan.

The overall cost for comparison for the Alliance & Leicester Five-Year Fixed-Rate mortgage is 5.4 per cent annual percentage rate.

Alliance & Leicester claims to be the UK's seventh largest bank with around 5.5 million customers and also offers personal loans, savings accounts and credit cards.

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