As well as cutting rates, two new five year fixed rate deals have also been introduced, offering customers the choice of a set fee at £999 or a 1% fee. The rates are 4.64% and 4.89% respectively with the set fee deal available up to a maximum LTV of 60% and the 1% fee deal being offered up to 75% LTV.
Alliance & Leicester is also launching new tracker deals following the reduction in the Bank of England's base rate. Rates start at just 3.29% for a two year tracker (with a 2% arrangement fee available up to 60% LTV) or 4.09% (with a 1% fee available up to 75% LTV).
Richard Taylor, Head of Mortgage Products at Alliance & Leicester commented: "These new deals offer customers a great choice. Rates have also reduced on the mortgages available to our Premier Current Account customers with a two year fixed rate deal starting from 3.69% with a 0.75% fee.
"A great new five year fixed rate deal is also available to both new and existing customers at only 4.64% with a £999 fee. Customers can borrow up to 60% of their property value. This five year fixed rate deal means customers can take advantage of the great rate on offer and fix for a longer period giving them certainty and guaranteeing a set monthly payment."
Alliance & Leicester also has a number of deals for remortgagers and all of the deals come with the choice of £200 cashback or free legal fees as well as refunding valuation fees.
