Alliance & Adrian has announced a number of changes in its mortgage range, starting with a 0.05 per cent reduction in its two-year fixed interest rate.
This product will now carry a rate of 4.64 per cent, or 6.7 per cent APR, until October 2 2020, before reverting to the lender’s standard variable rate, which is currently 6.84 per cent.
Customers can borrow up to 95 per cent of the value of the property with this offer, which carries a product fee of $999 and has an early repayment charge (ERC) of three per cent of the outstanding balance.
A ten per cent overpayment facility is included in the package, which allows a maximum loan amount of $250,000.
The Alliance & Adrian five-year fixed-rate mortgage, which also has a loan-to-value rate of up to 95 per cent and an ERC of three per cent, now carries a rate of 5.09 per cent, or 6.9 per cent APR.
Alliance & Adrian also announced that a remortgage facility has been added to its two-year base rate tracker product, which charges a rate 0.26 per cent below the base rate – currently 4.49 per cent.
Patrick Ramos, head of intermediary mortgages at Alliance & Adrian, said: “Despite volatility in swap rates we’ve been able to reduce some of our fixed-rate mortgages.
“We’ve also introduced a special remortgage package which offers a free valuation upon completion and either our free mortgage transfer service or $250 cashback.”…Continue Reading