New Mortgage deals from Alliance & Leicester

Alliance & Leicester has launched a new range of mortgages, which are available immediately and include:

Two Year Base Rate Tracker (reduced by 0.10%)
- Bank of England Base Rate minus 0.16% for two years, current rate 4.34% (5.5% APR), then Bank of England Base Rate plus 0.99%, currently 5.49%
- Customers can borrow up to 95% of the property value
- £499 product fee
- Early repayment fee - 3% of the loan if the mortgage is redeemed during the two year offer period
- Full flexible features
- Maximum loan - £250,000

Two Year Base Rate Tracker FeeSaver (reduced by 0.10%)
- Bank of England Base Rate minus 0.39% for two years, current rate 4.89% (5.6% APR), then Bank of England Base Rate plus 0.99%, currently 5.49%
- Customers can borrow up to 95% of the property value
- No product fee
- Early repayment fee - 3% of the loan if the mortgage is redeemed during the
two year offer period
- Free valuation
- Full flexible features
- £250 cashback or Mortgage Transfer Service³ for remortgage customers
- Maximum loan - £999,999

Stephen Leonard, Director of Mortgages said: “While fixed rate mortgage rates are on the up, interest rates are historically low and stable and as a result base rate trackers are becoming more popular to many borrowers.

In response to this demand we’ve cut the rates on our two year base rate trackers to offer greater value. Trackers will suit those who have a degree of flexibility in their budgets and can benefit from any cuts in interest rates as well as cover any
increases.”