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A&L cuts flexible mortgage rate

Alliance & Leicester is cutting its flexible mortgage rate to 7.49 per cent from 7.64 per cent after reductions in the Bank of England&#39s base rate.


A&L&#39s flexible mortgage lets borrowers make overpayments which cut total interest repayments.


This could shorten the term of the mortgage. There is no minimum or maximum overpayment and borrowers can build a credit facility to take repayment breaks, make underpayments or borrow back at a later date. Loans are available for up to 95 per cent loan to value.

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