A&L launches new deals and cuts rates

A&L launches new deals and cuts rates

Alliance & Leicester (A&L) is reducing interest rates for most of its mortgage products, with immediate effect.

Cuts of between 0.10% and 0.55% across all but one of the bank’s home loans are accompanied by the launch of a two-year fixed-rate deal at 5.99%, which is available to both new and existing customers.

A 1% arrangement fee applies and loan-to-value (LTV) ratios of up to 75% can be accommodated, with the maximum loan size being A?1,000,000.

The lender is also offering a two-year fix at 6.19% with an arrangement fee of A?599.

Another new offering from A&L takes the form of a base rate tracker currently at 6.99% (base rate plus 1.99%) and with no arrangement fee.

The maximum LTV is 85% and new and existing customers of the bank are welcome to apply but only if they are borrowing A?1 million or below.

Finally, the lender is cutting the rate on three-year loans of up to A?1 million to 6.89%, from 7.09%.

All deals are available via mortgage brokers, A&La��s branches, or by telephoning Mortgage Direct.

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