Alliance & Leicester launches new fee free fixed rate mortgages

Alliance & Leicester (A&L), part of Santander, will tomorrow launch new 3 and 4 year fee free fixed rate mortgages.

These new fixed rate mortgages will be available for up to 75% LTV and are for remortgages or home purchase.

For remortgages, Alliance & Leicester are offering their Mortgage Transfer Service or £200 cash back.

The Mortgage Transfer Service covers the legal administration work required to transfer a mortgage to A&L from another mortgage provider.

With these new products, the fixed rate mortage range from Alliance & Leicester includes

• 2 year – 4.09%
• 3 year – 4.69%
• 4 year – 4.79%
• 5 year – 4.89%

The 2 year and 5 year fixed rate mortgages are also fee free and are exclusive to A&L Premier current account customers.

Nici Audhlam-Gardiner, A&L Mortgage Director, said ‘We are committed to helping homebuyers and those looking to remortgage and this latest range is further proof of that. There are very few fee free deals at the moment and especially not ones with market leading rates.’

Santander operates three retail businesses in the UK – Abbey, Alliance & Leicester and the savings business of Bradford & Bingley.