Alliance & Leicester's pre-Christmas mortgage trio
Thursday, 20 Dec 2007 12:48
Alliance & Leicester is unveiling three new mortgage deals before Christmas in the shape of residential, buy-to-let and PlusMortgage products.
The mortgage lender is also cutting the standard variable rate (SVR) for existing customers by 0.2 percentage points from 7.89 per cent to 7.69 per cent from January 2nd, 2008.
Existing customers on Base Rate Tracker mortgages at Alliance & Leicester will benefit from a 0.25 percentage point decrease in their rates from January 1st 2008.
The new products, meanwhile, include the Two Year Base Rate Tracker at 5.74 per cent which allows customers to borrow up to 90 per cent of the property value, has a fee of £599 and a maximum loan of £1 million.
The Two Year Fixed Rate deal offers a rate of 5.87 per cent which is fixed until January 31st 2010 before switching to an SVR. Customers can borrow up to 90 per cent of the property value, there is a product fee of £599 and a maximum loan of £250,000.
The two-year Buy-to-Let Base Rate Tracker has a rate of 5.79 per cent and allows customers to borrow up to 85 per cent of the property value at a fee of £1,999.
Richard Taylor, head of mortgages at Alliance & Leicester, said: "Our fixed-rate mortgages remain competitive for those who seek budgetary security and the base rate tracker remains an excellent option for those who hope to take advantage of any potential rate cuts over the coming year."