Alliance & Leicester mortgages possess "market leading" fixed rates

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Alliance & Leicester mortgages possess "market leading" fixed rates

Alliance & Leicester has announced that it has reduced the interest rate on all of its fixed-rate mortgages.

From today, the group's two, three and five-year mortgages are being offered at rates of 4.99, 5.29 and 5.33 per cent respectively.

Following the end of the Alliance & Leicester mortgages' fixed-rate period, a standard variable rate will be applicable to the package.

A maximum loan of £250,000 is available on the two-year fixed-rate package, while the three and five-year deals enjoy a maximum loan rate of £999,999.

Early repayment charges also apply to all the Alliance & Leicester fixed-rate mortgages.

Stephen Leonard, director of mortgages at Alliance & Leicester, said: "With growing uncertainty about the direction of interest rates in 2007, we're offering some market leading fixed rates to give borrowers that all-important budgetary certainty."

"We've reduced the rates on all our fixed-rate mortgages to introduce some truly cracking headline rates whilst still offering a wide choice of deals to suit borrowers' individual needs, whatever their circumstances," he added.

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