11 Dec

Lender introduces new mortgage products

Lender introduces new mortgage products

In news that may interest those seeking mortgages, Alliance & Leicester has announced that it is lowering the rates on its two-year fixed-rate mortgages.

The bank said it is to now offer products starting at a rate of 3.99 per cent for home loans at a maximum loan-to-value (LTV) of 60 per cent and a one per cent fee.

For the same fee a mortgage with an LTV of up to 75 per cent is available at 4.49 per cent, while for an identical LTV deals are available at 4.69 per cent with a £599 fee and 4.99 per cent with no fee.

In addition to this, the lender is introducing a 3.99 per cent two-year tracker product with a one per cent deposit and maximum LTV of 60 per cent.

Head of mortgage products at Alliance & Leicester Richard Taylor said: "The new two-year tracker and two-year fixed-rate range are very competitive and represent great value for customers."

Earlier this week Abbey announced cuts to its range of fixed-rate mortgages of up to 0.6 per cent.

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