A&L hikes variable rates

Rates on two of its products have been increased, whilst the rate on its two-year Base Rate tracker has been lowered – however this still sits above bank Base Rate.

Revised product details are as follows:

Two-year Base Rate Tracker 5.79% (BBR +0.04%) (previously 5.59%)

• Customers can borrow up to 95% of the property value
• Product fee - £599
• Early repayment charges apply for first two years
• Full flexible features(1)
• Maximum loan £999,999

Two-year Base Rate Tracker 5.54% (BBR -0.21%) (previously 5.44%)

• Customers can borrow up to 95% of the property value
• Product fee - £1,499
• Early repayment charges apply for first two years
• Full flexible features
• Maximum loan £500,000

Two year FeeSaver Tracker 6.09% (BBR +0.34%) (previously 5.99%)

• Customers can borrow up to 95% of the property value
• No product fee
• Early repayment charges apply for first two years
• Full flexible features
• Free valuation(²)
• Remortgage cusomers get £250 Cashback or free Mortgage Transfer Service(3)
• Maximum loan £999,999

Richard Taylor, head of mortgage products at Alliance & Leicester, said: "We are keeping our competitive fixed rate deals, but in line with the market our variable rates have been raised by a modest amount. Our portfolio of mortgages continues to offer customers a wide range of choice to ensure they benefit from the best possible deal that suits their needs."