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Alliance & Leicester launches new fixed rate mortgages

13 June 2005
Two new fixed rate mortgages are available from Alliance & Leicester today.

The new two-year fixed rate deal is available at 4.59 per cent (5.6 per cent APR) fixed until August 31st 2007, when the deal reverts to Bank of England Base Rate plus 0.75 per cent for the life of the mortgage.

Customers can also take advantage of a great new five-year fixed rate deal, with rates at 4.64 per cent (5.4 per cent APR) until August 31st 2010, followed by Bank of England Base Rate plus 0.75 per cent for the life of the mortgage.

Both deals are available for up to 95 per cent of the property value, carry a product fee of £395 and require an early repayment charge of three per cent of the amount repaid if the mortgage is redeemed before the date at which rates change.

"Our latest fixed rate mortgages offer even more competitive rates and demonstrate Alliance & Leicester's ongoing commitment to offering great value mortgage products," said Stephen Leonard, director of mortgages at Alliance & Leicester.

"Fixed rate mortgages are currently very popular, with many people looking for budgetary certainty at a time when the economic outlook is unclear. I believe that these new deals will prove to be very popular."

Click here to find out more about fixed rate mortgages.

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