10 December 2008
• New 2-year fixed rates cut by up to 0.5%
• New competitive tracker product introduced
From Friday 12 December, Alliance & Leicester is introducing new lower rates on its two year fixed rate mortgages and launches a new two year tracker – with rates starting at just 3.99%. The new products will be available via brokers, in branches or by telephone at Mortgage Direct.
The new 2 year fixed rates are as follows:
• 3.99% with a 1% fee, customers can borrow up to 60% of the property value
• 4.49% with a 1% fee, customers can borrow up to 75% of the property value
• 4.69% with a £599 fee, customers can borrow up to 75% of the property value
• 4.99% with no fee, customers can borrow up to 75% of the property value
Alliance & Leicester is also introducing a competitive two year base rate tracker at 3.99% with a 1% fee. Customers can borrow up to 60% of the property value.
Richard Taylor, Head of Mortgage Products at Alliance & Leicester comments: “We are delighted to be able to bring these new products to market, demonstrating that Alliance & Leicester is competing strongly in the new business mortgage market. The new two year tracker and two year fixed rate range are very competitive and represent great value for customers.â€
Existing tracker customers at Alliance & Leicester will benefit from the full 1% reduction in the Bank of England’s base rate with effect from 1 January. From 2 January, Alliance & Leicester’s Standard Variable Rate (SVR) is reducing, down to 5.34% from 5.84%. All of Alliance & Leicester’s mortgage products are available to existing customers, enabling those on SVR to swap to a new deal if it suits their needs better.
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Notes to Editor:
For further information mortgage brokers should visit www.al.intermediary.co.uk or call 0844 8009999.
2008 Awards
• Alliance & Leicester was named as Best Discounted Rate Mortgage Provider of the year by Moneyfacts.
• Alliance & Leicester was named as Best Lender for First Time Buyer Products at the Legal & General Mortgage Club Awards.
• Alliance & Leicester was highly commended as Best Remortgage Provider by Moneyfacts.
• Alliance & Leicester named Best Current Account Provider (in credit interest) and Best Current Account Provider (debit interest) for the third consecutive year by Moneyfacts
Alliance & Leicester offer a range of services including cheap loans and savings accounts.
Alliance & Leicester is now part of the Santander Group, which has more than 150 years’ experience in banking, and more branches worldwide than any other international bank. Banks in the Santander Group are committed to serving our customers and helping them make the most of their money. In 2008 Santander won the Euromoney ‘Best Global Bank’ award.
address:
Alliance & Leicester plc
Carlton Park
Narborough
Leicester LE19 0AL
phone: 0116 200 3385
Email: [email protected]
