Alliance & Leicester Mortgages launches new products
www.moneynews.co.uk > Mortgages > Alliance & Leicester Mortgages launches new products
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Money News |
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Alliance & Leicester Mortgages launches new products
Tue 8th Apr 2008
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The standard two-year fixed-rate comes with a rate of 5.84 per cent, which is fixed until June 30th 2010, after which it reverts to the standard variable rate.
Customers signing up to that product can borrow up to 90 per cent of the property value, with a maximum loan of £250,000.
They will also be liable to pay a £999 arrangement fee and can take advantage of a ten per cent overpayment facility.
The buy-to-let product has a rate of 5.54 per cent, which is fixed until the same period as the standard product, but reverts to bank base rate plus 2.14 per cent after the fixed-rate period expires.
Customers can borrow up to 85 per cent of the property value, with a maximum loan of £500,000.
Richard Taylor, head of mortgages at Alliance & Leicester, said the new range offers borrowers "a choice of rates, product fees and the term they would like their mortgage to run".
Yesterday Abbey suggested that five-year fixed-rate mortgages are overtaking two-year fixes in popularity.
Related News : Mortgages |
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Related News : Alliance & Leicester |
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