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A&L launches new range of mortgages

Alliance & Leicester has launched a new range of mortgages, which is available immediately and includes:

Improved Five Year Fixed Rate at 4.99 per cent. Customers can borrow up to 95 per cent of the property value

Improved Two Year Fixed Rate
4.79 per cent (6.9 per cent APR) fixed until January 31 2007. Customers can borrow up to 95 per cent of the property value

New Long Term Base Rate Tracker
4.75 per cent (5.9 per cent APR) for one year then Bank of England Base Rate plus 1 per cent for life of the mortgage. Customers can borrow up to 95% of the property value

New Low Start 2 Year Discount FeeSaver
2.4 per cent discount off Alliance & Leicesters Standard Variable Rate (currently
6.84 per cent) for two years, then one year tracking the Bank of England base rate
plus 1.25 per cent. Current rate for 2 Years: 4.44 per cent (6.7 per cent APR). Customers can borrow up to 95 per cent of the property value

Alliance & Leicester head of mortgages Paul Cooper says: “Our latest range of mortgages is extremely competitive and demonstrates our ongoing commitment to offer great value mortgage products. This product represents a fantastic deal to borrowers who want the security of fixed monthly payments over a longer term.”


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Steelworkers’ go-ahead to sue Govt over pensions

Steelworkers who lost their pensions when their company went bust have been given the go-ahead to sue the Government in the European Court of Justice Community – formerly union ISTC – which represents the 1,000 former Allied Steel and Wire workers, says the Govern-ment did not adequately implement the European insolvency directive, which would have protected members’ pensions.

Chesnara outsources life back book

Chesnara has outsourced the management of its back book of life business, including Premium Life policies, to Liberata.

Auto-enrolment: tips for employers

The Pensions Regulator (TPR) has released advice on communications for employers, including three tips to help you with your auto-enrolment duties. 1. Allow enough time to select your pension schemeIt’s recommended that you start to prepare for auto-enrolment at least 12 months in advance of your staging date; additionally, give yourself time to choose the […]


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