The two products are:
* 70% LTV Lifetime Tracker at 2.89% (BBR+2.39%), with a fee £495, available for both homebuyers and remortgages.
* No fee, 70% LTV Lifetime Tracker at 2.99% (BBR+2.49%), available for both homebuyers and remortgages.
Both products have an ERC of 2% for the first three years only and offer an unlimited monthly overpayment option and lump sum capital repayments (£500 or more). Any overpayment credit can be used to take a payment holiday, reduce monthly repayment or can be borrowed back.
Ricky Okey, managing director of Alliance & Leicester Intermediary Sales, commented: “For those intermediaries looking to transact as much business as possible in the run up to the end of the year, these products are aimed at supporting that goal. With interest rates remaining on hold for the foreseeable future, these lifetime tracker mortgages give yet more value and choice for customers within the mortgage range we currently offer.”
