Alliance & Leicester mortgages 'enhanced'

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Alliance & Leicester mortgages 'enhanced'

Alliance & Leicester has announced a number of changes to its specialist mortgage range, which will be taking effect from today.

The group's new range includes two two-year buy-to-let mortgages, including a base rate tracker and a fixed-rate package.

While the former mortgage possesses a 5.81 per cent interest rate, the latter will be fixed at 5.18 per cent.

Both products have a maximum loan-to-value rate of 75 per cent, while early repayment charges of six per cent until March 2008 apply, before moving to five per cent for the duration of the mortgage.

Alliance & Leicester is also rolling out a new two-year fixed-rate self-certified product, with an interest rate of 5.84 per cent.

Jeremy Claridge, head of specialist mortgages at Alliance & Leicester, said the group had "maintained a very competitive pricing on the rest of the range of deals".

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