Alliance & Leicester unveils new mortgage products

Leading UK bank Alliance & Leicester has announced a number of changes to its self-cert and near prime mortgage deals.

Among the new deals is a self-cert two-year fixed-rate mortgage at 6.14 per cent, lasting until October 2009 and with 85 per cent loan-to-value. This product comes with an arrangement fee of £1,999 and with a reduced early repayment charge at six per cent (down from 6.24 per cent).

Other new products include a near prime buy-to-let mortgage and another near prime product with two-year fixed rates at 6.05 and 6.03 per cent respectively. A further self-cert two-year tracker deal starts at 0.15 per cent below the Bank of England base rate before reverting to 2.14 per cent above the Bank's rate.

"We are continuing to review and improve our specialist mortgages to ensure they offer real choice and value for money," said Jeremy Claridge, head of specialist mortgages at Alliance & Leicester.

"We recognise that an individual's personal circumstances and borrowing needs can change.

"Our latest self-cert and near prime deals are available to both new and existing borrowers who are either moving home or seeking to remortgage."

The new deals are available immediately.

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