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Alliance & Leicester launches new deals

26 January 2006
Alliance & Leicester has announced a range of new mortgage deals.

Its two-year fixed rate mortgage has been reduced by 0.2 per cent to 4.39 per cent, fixed until March 31st 2008 and then the Bank of England base rate plus 0.99 per cent for the life of the mortgage.

Additionally, the new two-year fixed rate FeeSaver reduced its rate by 0.1 per cent to 4.99 per cent fixed until the end of March 2008.

Alliance & Leicester has also launched a five-year discount rate with flexible options which has been reduced by 0.4 per cent to 4.79 per cent.

"Today we've launched a new range of mortgages with highly competitive rates," said Stephen Leonard, director of mortgages at Alliance & Leicester.

"Our market-leading fixed rate mortgages should be popular with those who are on a tight budget and who like budgetary certainty from their mortgage with fixed monthly payments."

He adds that those who prefer a variable rate mortgage might be pleased to learn that the lender has revised its five-year discount mortgage, improved the level of discount and got rid of the five-year early repayment charge period.

"This product also has the benefit of flexible features, such as overpaying the mortgage to reduce its term," Mr Leonard said.

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