Alliance & Leicester mortgages launched
www.moneynews.co.uk > Mortgages > Alliance & Leicester mortgages launched
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Money News |
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Alliance & Leicester mortgages launched
Wed 28th Feb 2007
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The three new packages include a new stepped mortgage, which will be fixed at 4.99 per cent for two years, before tracking the Bank of England base rate plus 0.74 per cent, then reverting to a standard variable rate.
Possessing a loan-to-value maximum of 95 per cent, the package enables a maximum loan of £999,999.
With a product fee of £999, the A&L mortgage also has a ten per cent overpayment facility, while early repayment charges of three per cent of the outstanding balance if the mortgage is redeemed during the three-year offer period apply.
A&L is also introducing a two-year base rate tracker and a five-year discounted package to its arm.
Stephen Leonard, director of mortgages at A&L, said that with first-time buyers being the "lifeblood of the housing market" the group wanted to provide a package which would keep costs low during the initial stages of homeownership.
Related News : Mortgages |
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Related News : Alliance & Leicester |
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