The products are available immediately and include:
Two-year base rate tracker (reduced by 0.10 per cent)
- Bank of England Base Rate minus 0.16 per cent for two years, current rate 4.34 per cent (5.5 per cent APR), then Bank of England Base Rate plus 0.99 per cent, currently 5.49 per cent
- Customers can borrow up to 95 per cent of the property value
- £499 product fee
- Early repayment fee - 3 per cent 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 per cent)
- Bank of England Base Rate minus 0.39 per cent for two years, current rate 4.89 per cent (5.6 per cent APR), then Bank of England Base Rate plus 0.99 per cent, currently 5.49 per cent
- Customers can borrow up to 95 per cent of the property value
- No product fee
- Early repayment fee - 3 per cent of the loan if the mortgage is redeemed during the two year offer period
- Free valuation
- Full flexible features
- £250 cashback or Mortgage Transfer Service for remortgage customers
- Maximum loan - £999,999
Stephen Leonard, director of mortgages at A&L, 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."
