23 Apr

Lender launches new tracker mortgage deal

Lender launches new tracker mortgage deal

Alliance & Leicester has announced the launch of a new two-year tracker mortgage.

The bank has unveiled the product, which will start at the base rate plus 2.45 per cent, for borrowers seeking a deal for up to £250,000.

It will come with a maximum loan-to-value (LTV) of 75 per cent and a £499 fee, replacing the existing rate of 2.75 per cent.

Director of mortgages at the bank Nici Audhlanm-Gardiner said: "We remain committed to offering borrowers highly competitive deals whether remortgaging or buying a new home."

Earlier this week, Leeds Building Society launched new mortgage products of its own.

These included a five-year, fixed-rate deal available at 4.99 per cent for an 85 per cent LTV, provided it is applied for through branches, call centres or online.

A ten-year product is available via the same application methods at 5.49 per cent and a 75 per cent LTV.

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