Alliance & Leicester launches new range of mortgage products

01-Sep-2006

Alliance & Leicester's new range of mortgage products may offer first time buyers increased flexibility, despite the recent rate increase decision by the Bank of England.

"Despite the recent increase … we've been experiencing a high level of applications and a growth in the popularity of variable rate deals," said Stephen Leonard, director of mortgages at Alliance & Leicester.

"In response to this we've reduced the rates on our two-year base-rate trackers to accommodate this demand.

"Our fixed-rates continue to be competitive and will suit those who prefer set monthly payments for budgetary certainty," he added.

Alliance & Leicester now offers a two-year base-rate tracker package, reduced by 0.06 per cent, in addition to a two-year fixed package, reduced by 0.05 per cent to 5.44 per cent until September 30th 2008.

Furthermore, the company now also offers a three-year fixed mortgage, set at 5.14 per cent until September 30th 2009, in addition to a five-year fixed package, with an interest rate of 5.19 per cent until September 30th 2011.

All of Alliance & Leicester's new mortgage packages are available immediately.

In addition to mortgages, the company offers a range of products relating to savings and investments.

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