12 Nov

Lenders unveil new mortgage deals

Lenders unveil new mortgage deals

Lenders have been unveiling new mortgage products following last week's Bank of England base rate cut.

Alliance & Leicester has brought out a pair of two-year deals at up to 60 per cent loan-to-value (LTV), with one being fixed and the other a tracker.

The fixed-rate deal will stay at 4.49 per cent until December 2010 and the tracker will charge at 1.89 per cent above the base rate.

Head of mortgage products at Alliance & Leicester Richard Taylor said the products were "very competitive".

Yesterday, Lloyds TSB and Cheltenham & Gloucester launched a range of new trackers.

Most of these were two-year deals at maximum LTVs of 60 or 75 per cent and rates that ranged from 4.39 per cent to 5.09 per cent, but both LTVs also included an 'All Weather' product that can be converted to a fixed-rate deal at any time.

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