Alliance & Leicester mortgages

Discount mortgages

Whether you are buying your first home, moving house or switching from your current lender, look no further than Alliance & Leicester for rates on a range of mortgages.

At Alliance & Leicester we aim to offer a number of different types of mortgage to suit different customer circumstances.

What are discounted mortgages?

Discounted mortgages offer customers the opportunity to pay a discounted interest rate for a set period of time. Our discounted mortgages guarantee you’ll pay a set discount below our standard variable mortgage rate for an agreed number of years, so you get the benefits of paying a lower monthly amount. For the discounted rate period, you’ll have more money in your pocket to finance decorating, improve the garden or simply treat yourself to something new. So, if you want to keep your monthly repayments at a lower level for the initial years of your mortgage, a mortgage with a discount rate could be for you.

There are different discount rate terms to suit your circumstances and once you reach the end of the period you revert to paying our standard variable rate.

At Alliance & Leicester we offer a number of discounted mortgages that vary in duration and repayment terms. Please note that all our mortgages are subject to status, valuation and availability, and available to UK residents only aged 18 or over.

Is a discounted mortgage the right mortgage for me?

If you are a first time buyer a discounted mortgage can provide much needed extra cash for other expenses incurred when you buy a home for the first time such as furniture, kitchen and bathroom essentials. Likewise, if you believe that interest rates will fall, the discounted mortgage makes continuing reductions to monthly repayments possible.

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