Alliance and Leicester Flexi 2yr BBR + 3.04% R/M LTV 70% Direct Mortgage Features & Benefits
(currently displaying summary information only)| Feature / Benefit | Summary | Details | |||
|---|---|---|---|---|---|
| Application Criteria: | |||||
| Existing Customers Only |  | no | This mortgage is not just available to existing customers | ||
| Existing Borrowers Only | | no | This mortgage is not just available to existing borrowers. | ||
| Remortgage Only | | yes | Only available for remortgages. | ||
| First Time Buyers Only | | no | This mortgage is not just available to first time buyers. | ||
| Available Via a Broker Only | | no | Not just available via brokers.Available direct. | ||
| Minimum Deposit | | 30% | 30% | ||
| Rates: | |||||
| Initial Rate APR | | 3.54% | 3.54% | ||
| Initial Rate Type | | tracker | tracker | ||
| Final Rate | | 4.99% | The standard variable rate is 4.99% | ||
| Mortgage APR | | 4.9% | 4.9% | ||
| Frequency of Interest Calculations | | monthly | Interest is calculated monthly | ||
| Tie-in Period After Rate | | 0 years | No tie-in period | ||
| Suitability: | |||||
| Mortgage Type | | Standard | Standard | ||
| Repayment Mortgage | | yes | Yes | ||
| Interest Only Mortgage | | no | No | ||
| Endowment Mortgage | | yes | Yes | ||
| Maximum LTV | | 70% | 70% | ||
| Maximum Loan | | £350,000 | The maximum loan is £350000 | ||
| Remortgage | | yes | This product is available for remortgages. | ||
| Remortgage Max LTV | | 70% | The maximum loan to value for remortgage is 70% LTV 70% to £350,000 | ||
| First Time Buyers | | no | This product is not available to first time buyers. | ||
| Existing Borrowers Moving Home | | no | This product is not available to existing borrowers moving home. | ||
| Existing Borrowers Not Moving Home | | no | This product is not available to existing borrowers not moving home. | ||
| Homemover | | no | This product is not available to homemovers. | ||
| Shared Ownership | | no | This product is not available for Shared Ownership | ||
| Right to Buy | | no | No right to buy is available | ||
| Restrictions: | |||||
| Maximum Term | | 40 years | 40 years | ||
| Minimum Term | | 5 years | 5 years | ||
| Incentives: | |||||
| Legal Fees Contribution | | yes | Choice of £200 cashback or mortgage transfer service for remortgages. | ||
| No Higher Lending Charge | | yes | No higher lending charge payable. | ||
| Facilities: | |||||
| Portable Mortgage | | yes | This product is portable | ||
| Flexible Payments | | yes | Flexible options- Overpayments, Underpayments, Payment holidays, Drawdown facility. | ||
| Overpayments Available | | yes | Unlimited overpayments are allowed without penalty. | ||
| Payment Holiday | | yes | Payment holidays are available | ||
| Fees & Charges: | |||||
| Early Repayment Charge | | yes | There is a early redemption charge payable. | ||
| Early Repayment Charge Amount | | 2% | ERC - 2% of the amount repaid on full repayment only for the first 2 years | ||
| Early Repayment Charge Term | | 24 months | ERC for 24 months. | ||
