Mortgage Industry News

← Back

Mortgage rates get a revamp

Date: Wed, 10 August 04 Analysis

Alliance & Leicester mortgage has launched a new range of home loan products.

The products are available immediately and include a five-year fixed rate, two-year fixed rate and long-term base rate tracker.

Alliance & Leicester mortgage spokesman Paul Cooper commented: "Our latest range of mortgages is extremely competitive and demonstrates our ongoing commitment to offer great value mortgage products."

And he said Alliance & Leicester mortgage is the first lender to re-price its five year fixed rate mortgage at under five per cent.

"This product represents a fantastic deal to borrowers who want the security of fixed monthly payments over a longer term," he said.

As well as the new fixed-rate deals Alliance & Leicester has launched a new long term base rate tracker and a new two-year discount.

The base rate tracker offer a rate of 4.75 per cent (an APR of 5.9 per cent) for one year, before reverting to Bank of England base rate plus one per cent.

The two-year discount starts at 4.44 per cent (two per cent lower than Alliance & Leicester's standard variable rate), then tracks the Bank of England's base rate plus 1.25 per cent for a third year.

All these new mortgages are available at 95 per cent loan to value (LTV).

© 1998-2005 DeHavilland Information Services plc. All rights reserved.

Endsleigh Insurance Services Limited is authorised and regulated by the Financial Services Authority. This can be checked on the FSA Register by visiting its web site at www.fsa.gov.uk/register.
Endsleigh Insurance Services Limited. Company No: 856706 registered in England at Shurdington Road, Cheltenham Spa, Gloucestershire GL51 4UE.