SVR and discounted rate mortgages change for new customers from 31 July and for existing customers on 2 August. Alliance & Leicester mortgage products that track the Bank of England Base Rate are also subject to change, increasing by 0.25%. New tracker products increased from 11 July, with existing borrower products increasing from 1 August. Alliance & Leicester will be writing to existing mortgage customers to advise them of the change.
Richard Taylor, head of mortgages at Alliance & Leicester, said: "Our latest range of mortgages continues to offer great value for money to new and existing customers, giving great choice to borrowers, whether they are looking for the security of a fixed rate or the leading headline rate of a variable rate."
