Alliance & Leicester mortgage deals announced

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Alliance & Leicester mortgage deals announced

From today Alliance and Leicester is launching five new mortgage deals, including three and five-year fixed-rate products and a new base rate tracker remortgage offer.

Customers signing up to the new three-year fixed-rate will be able to borrow to 90 per cent of their property's value, with a maximum loan of £1 million and a ten per cent overpayment facility.

It comes with a rate of 5.35 per cent, which is fixed until April 30th 2011, when it will switch to the standard variable rate.

Homeowners can also opt for the five-year fixed-rate mortgage, which has a rate of 5.79 per cent, and is fixed until April 30th 2013.

For those looking to remortgage their home, the new two-year remortgage base rate tracker deal offers a rate of 6.04 per cent, which later reverts to the base rate plus 0.99 per cent.

It also comes with a free valuation, £250 cashback or mortgage transfer service and no early repayment charges.

The fixed rate on the buy-to-let two-year deal has been reduced to 5.34 per cent, from 5.44 per cent, which will revert to the base rate plus 2.19 per cent in 2010.

Richard Taylor, head of mortgages at the bank, comments: "The introduction of these new products reinforces Alliance & Leicester's commitment to the mortgage market."

Alliance & Leicester announced last week that it had amended the rates on many of its savings products.
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