Alliance & Leicester, a UK-based bank owned by Grupo Santander, has announced that it is extending its range of fee-free mortgages with the launch of three- and four-year fixed rate remortgage and homebuyer deals which are available up to 75% loan-to-value through all channels.
For the three-year fixed rate deal, the new rates are 4.69% with no fee and up to GBP550,000 with the remortgage one; and 4.69% with no fee and up to GBP550,000 with the homebuyer one.
For the four-year fixed rate deal, the new rates are 4.79% with no fee and up to GBP550,000 with the remortgage one; and 4.79% with no fee and up to GBP550,000 with the homebuyer one.
In addition to no fees, for remortgagers, Alliance & Leicester said that it also offers a mortgage transfer service which takes care of the legal administration work and costs when customers transfer their mortgage to the company from another lender.
Alliance & Leicester’s fee-free range already includes a two-year fix with a rate of 4.09% and no fee, and a five-year fix with a rate of 4.89% and no fee, both of which are available up to 75% loan-to-value and come with the lender’s homebuyer or remortgage one. Both products are exclusive to customers who hold or take out a Premier current account, the bank said.
Nici Audhlam-Gardiner, mortgage director at Alliance & Leicester, 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 available at the moment and especially not ones with market-leading rates. In addition to savings on the fee, borrowers can save money with the free valuation and legal costs covered using our mortgage transfer service, removing some of the additional costs associated in buying or moving home.
