New mortgages launched by Alliance&Leicester

A number of new mortgages have been launched by Alliance & Leicester and will be available to borrowers from today (May 9th).

The lender has launched a two-year fixed-rate mortgage, with mortgage interest rates of 5.99 per cent.

The fixed period remains in place until July 31st 2010 at which point the mortgage will revert to Alliance & Leicester's standard variable rate.

Customers can borrow up to 75 per cent of the value of the property, with a maximum loan amount of £1 million.

A two per cent product arrangement fee is payable and the fixed-rate mortgage comes with a ten per cent overpayment facility.

In addition to this deal, the firm has launched a two-year base rate tracker mortgage.

Mortgage interest rates on this deal start at 5.89 per cent and then switch to 1.49 per cent above the base rate of interest.

The loan-to-value is up to 75 per cent, with a maximum loan amount of £1 million and no early repayment charge.

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