Alliance & Leicester mortgages revised

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Alliance & Leicester mortgages revised

A trio of new mortgage offerings have been launched by Alliance & Leicester.

The first of these is a two-year discount deal with a fixed rate of 5.55 per cent until September 30th 2009, which then changes to the standard variable rate (SVR) of 7.89 per cent.

Among the features are a product fee of £599, full flexibility options and the ability to borrow up to 95 per cent of a product value up to £250,000.

A fixed-rate of 5.44 per cent is offered for the first two years on its base rate tracker offering, which then switches to 0.99 per cent above the Bank of England's rate.

The third deal is a low-start two-year deal with a fixed rate of 5.34 per cent for two years, followed by a year at 0.74 per cent above the base rate, which then reverts to the SVR.

"As always our mortgages offer great value for money and great choice to both new and existing customers - whether they are looking for the security of a fixed rate or the flexibility of a highly competitive variable rate," said Richard Taylor, head of mortgages at Alliance & Leicester.

Earlier this week, Alliance & Leicester recommended its PlusMortgage product to people looking to buy their first home.

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