Alliance and Leicester announces expansion
By: -ddd- | Posted: 24th July 2007
Amidst the recent storm of pessimistic publicity, Alliance and Leicester Commercial Bank has managed to come across as a save harbor. While spokesman for Northern Rock is busy justifying the latest increase in fixed mortgage rate, Alliance and Leicester maintains reasonable rates, modestly elaborating that they were able to acquire funds on the money markets for a song, hence, are able to pass down financial fruits of their ability down to their customers. A bank just doing its job, that’s all. What an immensely impressive feat! Previously this month, their newly launched rewards program of “recommend us to a friend, get a 50” carried a hint of sweaty aroma, and caused a fair amount of jokes about gym referral programs and pyramid marketing. Alliance and Leicester’s latest deal, however, forces one to reconsider, and suddenly, the prior reaction of mild distaste and brow-raising curiosity is replaced by a cautious admiration of their progressive marketing and creative solutions.
An article published in Variety, for example, reveals just what type of financial operations allow Alliance and Leicester to keep their rates low. Sources report that the bank financed Daniel Craig’s debut as 007 in the blockbuster “Casino Royal.” though U.K. law firm Davenport Lyons. “Hedge funds are becoming increasingly interested in the film industry, where there can often be great opportunities for impressive gains,” said Davenport Lyons partner Sam Tatton-Brown. Alliance and Leicester paid for our latest hero, and was splendidly rewarded in return.
Their customer benefits. The latest deals from the bank include two and three year fixed rate mortgages. Two year fixed mortgages, tagged £999, are available at 5.79% (7.6% APR), and offer to borrow up to 95% of the property value, 10% overpayment facility, on the loans of up to a £250,000 (early repayment charges apply until 31 August 2009). The three year fixed rate mortgage, for a price of £599, is available at 6.14% (7.5% APR), and makes it possible to borrow up to 95% of the property value, 10% overpayment facility, on the loans of up to a £999,999 (early repayment charges apply until 31 August 2010). It is possible that a seasoned mortgage broker would be able to secure a similar deal, yet Alliance and Leicester successfully present themselves as a “Prince of finance - on a white horse - at your service.”
The perfectly timed second announcement is of an expansion of Alliance and Leicester’s business centre operations into Yorkshire and the North East. The expansion is a result of increasing customer demands, and will also create new jobs in the region. The amount of loans and mortgages, issued by the West Yorkshire Business Centre has more than doubled in the past two years, and is presently on target to meet the similar goal for 2007.
As a part of its nationwide expiation plans Alliance and Leicester will open two new business centers in Tees Valley and Hull by the end of this year.
In an official statement, released today, Mark Whitaker, the newly appointed head of the bank’s West Yorkshire Business Centre, said: “I chose to join the bank because of its customer focus and competitive, alternative approach which differentiates it from other banks and offers businesses real value. I look forward to building on the Business Centres’ success to date and to playing my part in helping businesses in West Yorkshire to prosper.” He can talk the talk, but can he walk the walk? Hope so.
Alliance and Leicester announces expansion
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Tags: blockbuster, referral programs, fixed rate mortgage, rewards program, customer benefits, fixed rate mortgages, year fixed rate mortgage, daniel craig, fixed mortgage rate, year fixed rate mortgages