View more on these topics

A&L launches three new mortgage deals

Alliance & Leicester is launching a new mortgage range which includes a base tracker offering a 4.75 per cent initial pay rate.

The mortgage provider’s fully flexible long term base rate tracker gives buyers 4.75 per cent for one year, after which it reverts to Bank of England base rate plus 0.55 per cent.

The new three-year fixed rate mortgage costs 4.89 per cent until April 30, 2008, and then falls to Bank of England base rate plus 0.75 per cent for the life of the mortgage. Both these schemes allow customers to borrow 95 per cent LTV.

The new one-year fixed rate Switcher Special product charges 4.79 per cent until April 30, 2006 with no fee for switching. Both the three-year and one-year mortgages have an early repayment charge of three per cent – if redeemed before April 30, 2006, or April 30, 2008 respectively.

Alliance & Leicester director of mortgages Stephen Leonard says: “Our new one-year fixed rate mortgage is ideal for existing customers who are coming off a deal this year and looking for short-term security rather than long-term commitment.”

Recommended

Julian Gibbs

Paul Mumford, who manages the Cavendish opportunities fund, is one of only six managers to have beaten the FTSE 100 index every year for the past five years. Furthermore, his longterm performance is outstanding, up by over 240 per cent over the past 10 years. Cavendish has now decided to launch an entirely different type […]

GE Life relents on impaired annuity

Professional Solutions IFA director Mark Ryan has won a battle with GE Life after confusion over placing an impaired life annuity. Ryan was quoted a rate of 6.5 per cent on a £22,000 impaired life annuity but subsequent quotes were reduced by the company to 5.5 per cent. This left Ryan being forced to revisit […]

The One Account launches intermediary exclusive

The One account is announcing a new 12 month discount on its Flexible Mortgage Option product. The new offer will be exclusive to intermediaries giving customers a discount of 0.46 per cent off the long term rate. This will mean a discounted rate of 5.24 per cent for loans of less than or equal to […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment