View more on these topics

A&L reduces fixed rates by up to 0.90%

Alliance & Leicester has launched a portfolio of mortgage products, with fixed rate mortgages being reduced by up to 0.90%.

The new products will be available from Thursday 4 December 2008 and include a 2-year fixed rate priced at 4.94% (previously 5.79%).

That deal comes with an £599 product arrangement fee and clients can borrow up to 75% of the property value.

It also offers a 10% overpayment facility and a maximum loan of £250,000.

Other products include a 2-year fixed at 4.99% (previously 5.59%) with a 1% product arrangement fee and the 2-year fixed rate FeeSaver at 5.49% (previously 6.39%).

The latter offers free valuation and remortgage customers get £200 cashback or a free mortgage transfer service.

Richard Taylor, head of mortgage products at Alliance & Leicester, says: “I am delighted to announce these rate reductions to our fixed rate mortgage products, and I am sure they will be very appealing to customers.

“We offer a range of products with different arrangement fee levels or even no fee at all meaning customers can select the mortgage that best suits their needs.”

Recommended

CML pleas for honest assessment of challenges ahead

The Council of Mortgage Lenders will use its annual conference today to plea for an honest assessment of the challenges facing the lending industry. The CML agrees with Mervyn King that the most pressing problem now is to get institutions lending again. But it says there are inherent conflicts in demands to improve the flow […]

Through a looking glass, darkly

It’s fair to say that the specialist lending sector is unrecognisable compared with a year ago.

Spowart to plead against Lloyds takeover on C4

Jim Spowart, the founder of Intelligent Finance, and Scottish National Party MSP Alex Neil will call on HBOS shareholders to vote against the planned Lloyds TSB takeover on Channel Four tonight.

Newsletter

News and expert analysis straight to your inbox

Sign up