Alliance & Leicester's new deals

A range of residential and buy-to-let fixed-rate mortgage deals have been unveiled by Alliance & Leicester today.

The building society has also announced it is introducing a new residential 5.94 per cent base rate tracker mortgage, which features a one per cent fee and no early redemption charge (ERC).

Its new fixed-rate range includes previous products with adjusted rates and entirely new offers.

The two-year fixed-rate 4.99 per cent deal is new to the residential market. It has a two per cent arrangement fee, allows customers to borrow up to 90 per cent of the property's value and includes a ten per cent overpayment facility.

Alliance and Leicester has also slashed the rate on its three and five-year fixed-rates from 5.99 per cent to 5.79 per cent. The deals come at a fee of £599 and customers can borrow up to 90 per cent of the property's value.

The buy-to-let range includes a new 5.74 per cent three-year fixed-rate mortgage. There's a 1.5 per cent arrangement fee and customers can borrow up to 85 per cent of the property's value.

The building society has also cut the rate on its two-year fixed deals from 5.98 per cent to 5.44 per cent.

Richard Taylor, head of mortgages at Alliance & Leicester said: "The range of products we offer means customers can choose the right package to fit their needs and fix their monthly payments for two, three or five years."