Up to £850,000 85% LTV

Up to £999,999 75% LTV

Min 75% LTV

Mortgage is Portable

Your mortgage is 'portable' which means that if you move house you can transfer your mortgage to another property, subject to terms and conditions. If you complete your new loan with Alliance and Leicester immediately, no Redemption Administration Charge (see above) will be payable by you in respect of your existing loan being repaid. If you do not complete a new loan with Alliance and Leicester immediately but move house and complete a new loan within 3 months of your existing loan being repaid, the Redemption Administration Charge will be refunded approximately 14 days after completion.

This product is available for on-line applications and any authorised paper based exceptions.

With an 'Interest Only' mortgage the choice of the repayment vehicle is the responsibility of the applicant who must maintain their payments and ensure that the performance of their chosen fund is sufficient to repay the debt at the end of the agreed term.

Alliance & Leicester may use alternative valuation methods, which include the use of limited external appraisals, or use computer based data to establish the value of the property. Remortgage customers will not receive a copy of the valuation report.

You can make overpayments on your mortgage but an Early Repayment Charge will be payable on any overpayment made during the Early Repayment Charge period. Please see below and Section 10 for full details of this.

When the Early Repayment Charge period has expired, any overpayments that you make will not be subject to an Early Repayment Charge.

Overpayments of less than £500: If you make a regular or lump sum overpayment on your mortgage (that is, an overpayment which is less than £500), the amount you owe, and so the amount of interest you pay, is not recalculated immediately, but at the end of the month in which the overpayment is made.

Overpayments of £500 or more: If you make a capital payment, the amount you owe and so the amount of interest you pay, is recalculated and reduced immediately. This provides you with a benefit immediately. However, Alliance & Leicester allow you to make one penalty-free overpayment in every January that falls within the Early Repayment Charge period on the condition that the amount is £500 or more over the monthly payment due each January. The overpayment shall not exceed 10% of the amount outstanding on your mortgage account at the time it is made, subject to being a minimum amount of £500. The overpayment will result in both the amount outstanding on your mortgage account and the amount of interest you pay being recalculated immediately. This provides you with a benefit immediately. If the overpayment exceeds 10% of the amount outstanding on your mortgage account, the full amount of the overpayment will be applied to your mortgage account. However, the amount which is over and above 10% of the amount outstanding on your mortgage account will be subject to payment of an Early Repayment Charge in accordance with the provisions contained in Section 10.

Capital Rest Period : Monthly

Repayment Yes

Endowment Yes

PEP Yes

Pension Yes

Interest only (no RV) Yes

With Profits Yes

Unit Linked Yes

ISA Yes

Split Repayment Yes

Arrangement : varies

Booking :

None

Basic:

upto £50,000 - £220

upto £100,000 - £250

upto £150,000 - £280

upto £200,000 - £320

upto £250,000 - £340

upto £300,000 - £370

upto £400,000 - £430

upto £500,000 - £530

upto £750,000 - £670

upto £1,000,000 - £820

Homebuyers:

upto £100,000 - £425

upto £150,000 - £460

upto £200,000 - £510

upto £250,000 - £575

upto £300,000 - £625

upto £400,000 - £725

upto £500,000 - £825

upto £750,000 - £950

upto £1,000,000 - £1100

Valuation Fees for properties over £1,000,000:

Basic valuation - £1,070.

Homebuyers valuation - £1,570.

Fees that are available to be added to the loan must not exceed 97% LTV.

Fees are added on a Capital and Interest Basis in all scenarios. The illustration produced from the system will NOT reflect this if the repayment type is any form of interest only (i.e. pension, endowment etc. Alliance & Leicester's offer will illustrate this.

Where a product offers a free (or refunded) valuation, this incentive is specifically for the provision of an Option 1 valuation only. If the applicant requires an option 2 or 3 valuation, NO refund of the option 1 equivalent fee will be made.

The following fees can be added to the mortgage: Product Arrangement Fee and the First Telegraphic Fee. The valuation fees, further loan fees, re-inspection fees or any fees relating to regulated lending cannot be added to the mortgage.

Higher Lending Charges are calculated on the difference between 75% of the value of your home and the amount you wish to borrow. Added fees will not be included in this calculation.

Lender Conveyancing Fee - £189.00 Payable on completion. This fee is non refundable and cannot be added to the loan and is payable to your conveyancer on completion of the loan. The fee amount is an estimate and may not reflect the true amount for conveyancing that you will need to pay. The fee is based on a scale based on the purchase price up to £15k £120, £15k to £20k £129, £20k to £25k £136.50, £25k to £30k £141, £30k to £60k £150, £60k to £100k £189. For properties valued above £100,000 the fee is £189 + £1.88 for each £10k (or part there of) above £100k.

Redemption Administration Charge - £295.00 Payable on completion.

Insurance Admin - £25.00 Added to loan.

Telegraphic Transfer - £30.00 Payable on completion.

Freehold Flat No

Purpose Built Flat Yes

Converted Flat Yes

Flat Over Shop Refer

Maisonette Yes

Studio Flat Yes

Flying Freehold Refer

Thatched Refer

Timber Framed Refer

Concrete Refer

Agricultural Tie No

Flat Over 4 Storeys Refer

Listed Building Refer

Max Discount% 100

Max Market Value% 75

New Build acceptable. Second Homes can be considered but the Lenders 'Aggregate Debt' policy applies where the applicant has two or more mortgaged properties on completion of the mortgage requested. Part of this policy is that the Maximum LTV is 85% (or 75% if the PP/Valuation is over £500,000). The mortgage payment for any outstanding mortgages (excluding self-financing buy-to lets) must be treated as a commitment when assessing affordability. For full details of this policy please refer to the Lender.

Vendor Deposits not accepted - lender regards them as a reduction in Purchase Price and expects the applicant to provide their own deposit accordingly.

Maximum number of bedrooms and bathrooms, no limit subject to valuation and property being used for applicants own main residence, no sub letting.

Maximum storeys allowed for flats with a lift, no limit subject to valuation, the exception is Ex-Local Authority owned properties where the max number of floors is 5.

Timber framed properties maybe acceptable - refer to lender for details.

Some types of concrete properties maybe acceptable - refer to lender.

The maximum loan to value for any new build or nearly new flat is 70%.

We will lend 100% of the discounted purchase price (also subject to Lenders standard LTV limits based on valuation). Additional funds may be borrowed above this purchase price but for Home Improvements only - up to a maximum of 75% of the open market valuation.

The initial interest rate applying to your chosen product is based on the Loan to Value, this being the percentage that the Loan Amount bears to our valuation or purchase price of your property, whichever is the lower. If the Loan to Value changes before completion of your mortgage, this may affect the initial interest rate on your product.

Builders' deposits are no longer acceptable therefore applicants must make a minimum 10% deposit (or higher depending on the LTV limit of the product chosen).

All builder incentives, regardless of their nature, will be netted from the purchase price of the property. The valuation of the property will be reduced by the value of all incentives.

A new build property is defined as one that was constructed, had a major renovation or change of use in the last two years.

Exposure to each new build development will be limited to 20% of the total units at each development.

Alliance & Leicester do not lend on builders schemes where the applicant does not own 100% of the property, e.g. where 25% of the sale price is funded by the builder and is payable at some later date.

Accepted Locations : England, Scotland, Wales, N Ireland

Bank Statements No

At Least 3 Months Pay Slips Yes

P60 No

Proof Of Residency No

Life Policy To Be Assigned No

Previous Lender References No

Buildings Conditional

Min Loan £25,000

Max Loan £999,999

Max Portfolio of BTL Loans none

Min Age 18 years

Max Age 75 years

Min Term 5 years

Max Term 40 years

Foreign Citizens Refer

Ex-Patriates Not Accepted

Based on Income > 0

4.75 + 1 or 4.5 joint

Min months in current position none

Min months in continuous service 3

Min no. of years accounts 3

Average years taken to calculate income 3

Will consider declining profit Refer

Lending is based on affordability

Short Term Contract, contractors are acceptable provided they have been in employment for the last 12 months and specifically a contractor for a minimum of the last 3 months. There is no minimum length of time that should be left to run on a temporary contract.

All Fees are added on a Capital and Interest basis in all scenarios. The illustration produced from this system may NOT reflect this if the repayment type is any form of Interest Only. The Lenders Offer KFI will illustrate this policy.

Maintenance payments may be considered as a guaranteed income provided a 12-month track record of receipt of payments can be proved.

Hire Purchase Taken into account

Personal Loans Taken into account

Overdraft Refer to lender

Credit/Store Cards Taken into account

Child Maintenance Taken into account

Child Education NOT Taken into account

Extra Income:-

Other Income - Guaranteed Add 100% to income before multiply

Other Income - Regular Add 50% to income before multiply

Other Income - Irregular Refer to Lender

Investment Income Add 50% to income before multiply

Mortgage Subsidy Add 100% to income before multiply

Large Town Allowance Add 100% to income before multiply

Maintenance Payments Add 100% to income before multiply

Non Contributory Pension Refer to Lender

Car Allowance Add 100% to income before multiply

Remortgage Not Available

CCJs : Acceptable, must be satisfied for at least 72 months

Defaults : See CCJs

Arrears : Acceptable,

must be satisfied for at least 12 months

Bankrupt : Acceptable, min months Discharged 72

Current IVA : Not Acceptable

Repossession : Acceptable, At least 72 months ago

CCJ - Accepted if satisfied over 6 years.

Defaults - Accepted if satisfied over 6 years.

Arrears - 0 in the last 12 months.

Bankruptcy - Accepted if discharged over 6 years.

IVA - Accepted if satisfied over 6 years.

Repossessions - Repossessions are not accepted if the debt is still outstanding.

- The Lender will judge customers with previous or existing adverse credit in a flexible manner and every case will be judged on its individual merits, along with the customer's ability to keep up repayments on the mortgage, taking into account his/her existing liabilities.

- The Lender will consider cases of financial difficulty and mortgage arrears sympathetically.

- The Lender follow the general principles of the Council of Mortgage Lenders' Statement of Practice on Handling Arrears and Possessions, including :

a) with your co-operation, developing a plan with you for dealing with your financial difficulties and clearing the arrears, consistent with both your interests and those of the Lender.

b) possession of your property will be sought only as a last resort when attempts to reach alternative arrangements with you have been unsuccessful.