The new 2 year fixed rates are as follows:
- 3.99% with a 1% fee, customers can borrow up to 60% of the property value
- 4.49% with a 1% fee, customers can borrow up to 75% of the property value
- 4.69% with a £599 fee, customers can borrow up to 75% of the property value
- 4.99% with no fee, customers can borrow up to 75% of the property value
Alliance & Leicester is also introducing a competitive two year base rate tracker at 3.99% with a 1% fee. Customers can borrow up to 60% of the property value.
Richard Taylor, Head of Mortgage Products at Alliance & Leicester comments: “We are delighted to be able to bring these new products to market, demonstrating that Alliance & Leicester is competing strongly in the new business mortgage market. The new two year tracker and two year fixed rate range are very competitive and represent great value for customers.”
Existing tracker customers at Alliance & Leicester will benefit from the full 1% reduction in the Bank of England’s base rate with effect from 1 January. From 2 January, Alliance & Leicester’s Standard Variable Rate (SVR) is reducing, down to 5.34% from 5.84%. All of Alliance & Leicester’s mortgage products are available to existing customers, enabling those on SVR to swap to a new deal if it suits their needs better.
