Alliance & Leicester PlusMortgage for first-time buyers by Finance News Bulletin

Published: 25/11/07

Alliance & Leicester has recommended its PlusMortgage product to populace looking to pay money for their first homeThe offering combines a 100 per cent loan-to-value mortgage with a personal loan in a package that allows the borrower to create unlimited overpayments on the latterAccording to research by the store, 73 per cent of mortgage brokers believe a bundled manufactured goods such as the PlusMortgage will benefit unparalleled buyers"When innovative products come onto the market, it's important they actually fill a hole and help those who require it most," said Jeremy Claridge, head of specialist mortgages at Alliance & Leicester

"Rising interest rates and house prices mean first-time buyers need supple products that will help them get onto the housing ladder"Abbey lately claimed that an rising number of first-time buyers are turning to brokers for advice on what mortgage is best for them - with 28 per cent of those aged between 25 and 34 language to intermediaries before buying, compared to two per cent

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