Alliance & Leicester mortgages

Choosing the mortgage that’s right for you

The UK property market has changed dramatically in recent years. If you have owned your property for a few years, it could be worth much more than your outstanding debt. Choosing to remortgage for a larger amount could release some additional capital to spend as you choose, maybe for that new kitchen or a conservatory you’ve always dreamed of. Alternatively, you may be looking to remortgage in order to save money on your repayments without having to move home.

For people in the UK looking to remortgage, there are a number of different types of mortgages available from Alliance & Leicester, the most common being:

Discount remortgages

A remortgage that saves you money in the early years by giving you a discount off our standard variable mortgage rate, usually up to 5 years. So, if you want to keep your monthly repayments at a lower level for the initial years following your remortgage, a discounted remortgage could be right for you.

Fixed rate remortgages

Help you to budget, because you know what your monthly repayments will be during a fixed period. The interest rate is fixed, even if UK interest rates change. Fixed rate remortgage is a remortgage option that lets homeowners know exactly what their monthly repayment rate will be for a specific period of time.

Flexible remortgages

With a flexible remortgage you can vary your remortgage payments to suit your circumstances. If you've got extra cash, you can pay more and pay off your mortgage early and potentially save money. Alternatively, you have the flexibility to take payment holidays, make under payments or borrow money back on occasions when money is tight.

Base rate tracker remortgages

A base rate tracker remortgage is a variable rate mortgage which always follows the Bank of England's Base Rate, so your payments will change in accordance with external market interest rates. You will quickly benefit from any potential changes, plus the rate on your tracker mortgage always maintains the same differential between the rate you pay and the interest rate set by the Bank of England.

If you choose to apply for your remortgage with Alliance & Leicester, you may be eligible to take advantage of various benefits and discounts. All our mortgages are subject to status and valuation and available to UK residents only aged 18 or over.

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