Alliance & Leicester

Alliance & Leicester

Alliance & Leicester is a respected name in both personal banking and mortgages.  In July 2008 it was announced that the Santander group, which already owns British mortgage giant Abbey, will be buying A&L and streamlining its operations.

No changes have been announced to the product range (the deal won't be completed until at least October), but we'll keep you updated if they do.  Meanwhile, let's take a look at the current range of A&L mortgages.

Alliance & Leicester Mortgages

The nation's ninth largest mortgage lender has won several awards over the years, and it has always taken a careful approach to lending.

Currently, many of Alliance & Leicester's best mortgage deals are available to existing banking customers.  If you have an A&L Premier Account (their fee-paying current account, with a host of additional services included) you can access their Premier Mortgage deals.  These include a good looking 2-Year Tracker mortgage at 5.89% (max 75% LTV).

For non-Premier customers,  there are:

  • tracker mortgages from 5.98% (2 year discounted, base rate plus 0.89%; this is for loans up to 75% TLV)
  • fixed rates that range from 6.14% to 7.64%, but with a really wide range of fees...

With A&L you can get mortgages up to 90% LTV, although the lowest interest rates are offered on 75% LTV or below.

It looks like the tracker versions offer the prospect of lowest repayments at the moment.  They're tagged to the Bank of England base rate though, so interest repayments will rise and fall in accordance when the Bank announces a change.

However, one thing to watch with A&L mortgages is the arrangement fee!  On several deals they are set by percentage, e.g. 2% on the two-year tracker mentioned above.  So this would cost £3,000 applying for a £150k mortgage.  The fixed-rate range does offer a fee saver option, but only if you're happy to fix at 7% or above.

Comparing and Choosing A & L Mortgages

At Money Hospital we provide a quick way to find out if an Alliance & Leicester Mortgage is right for you – or any other lender, for that matter.  You can use our enquiry form to speak to a mortgage specialist for unbiased advice.

You'll get a free call back with a rundown of today's best mortgage deals for your personal situation.  There's no obligation, and it will be a whole lot quicker than using the internet to shop around all 105 UK mortgage lenders!

Fill in the short 1-minute enquiry form to speak to an adviser and get expert help.

If you're not quite at the getting-a-mortgage stage yet, but just researching, you can use our mortgage repayment calculator to do some sums.

And our telephone assistants can also put you in touch with a qualified adviser, they're available 24 hours a day on 0845 8035502.

Step 1 of 3 About your mortgage


 
 
 
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Step 2 of 3 About your mortgage

 

 
 
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Step 2 of 3 About your mortgage
 
 
  
 
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Step 3 of 3 Your details
 
 
 
 
 
 
 
 
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Thank you for your enquiry.

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Mortgage Matron

Using the enquiry form above you'll get a call back from a fully qualified adviser. It's free and no obligation.

They can give you quotes and comparisons from just about every lender. (Or you can call 0845 803 5502 to do this by phone)

Abbey Alliance & Leicester Bank of Ireland Bank of Scotland Barclays Bradford & Bingley Bristol & West Britannia Building Society Chelsea Building Society Cheltenham & Gloucester Co-operative Bank GMAC RFC Halifax HSBC Lloyds TSB Mortgage Express Nationwide NatWest Royal Bank of Scotland West Bromwich Woolwich Abbey Alliance & Leicester Bank of Ireland Bank of Scotland Barclays Bradford & Bingley

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER DEBT SECURED ON IT

Our service is free to you but to operate this service we receive fees from the lenders or brokers we refer you to.There may be a fee for mortgage advice. The adviser is obliged to disclose to you the fee before providing the advice and the precise amount will depend upon your circumstances. We estimate that a typical fee will be 1% of the sum you borrow.