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New A & L products for homebuyers

Alliance & Leicester has launched two new packages aimed to make life easier for First Time Buyers looking to get on to the property ladder. Customers who apply for their first mortgage at a branch or via Alliance & Leicester mortgage direct on 0800 3033000 will have the opportunity to receive free conveyancing and free first time buyer insurance.

Alliance & Leicester has linked up with three major firms of solicitors to carry out conveyancing for first time buyers. Free conveyancing is available as an alternative to £250 cashback or no arrangement fee, which is offered to first time buyers on a number of A&L mortgages.

This new service will save customers time in having to find a solicitor and also money. When the customers complete the purchase of their new home, Alliance & Leicester pays for their legal fees leaving them only to pay for disbursements such as stamp duty and searches.

All the work can be done over the phone or via post or fax and customers are able to speak to their solicitors 7 days a week from 8am - 8pm, Monday to Friday and 9:30am - 4:30pm Saturday and Sunday (Scotland 8:30am - 5:30pm, Monday to Friday).

All first time buyers will also receive free homebuyer insurance, which will provide up to £500 cover against:

• Gazumping
• An adverse survey or legal searches
• Certain changes in the customer's circumstances

The customer will be refunded up to £500 in expenses incurred in the failed purchase providing they come back to Alliance & Leicester for their next mortgage within 6 months (and this new mortgage completes).

Geoff Mozley, Head of Mortgages at Alliance & Leicester commented: "Buying your first home can be a very stressful time. Finding a solicitor and the risk of being gazumped are two of the most worrying sides of homebuying and therefore the two new offers from Alliance & Leicester are designed to relieve some of the stresses associated and also provide a free safety net at a vulnerable time."

For further information on the above offers and Alliance & Leicester's current mortgage range customers should visit their local branch, call 0845 303 3000 (calls charged at local rates, open between 8am-8pm Monday to Friday and 9am-5pm Saturday) or visit www.alliance-leicester.co.uk