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Alliance and Leicester reveals new mortgages
23 December 2008 16:46
Alliance and Leicester has revealed a range of new fixed-rate and tracker mortgage products, FT Adviser has reported.
From today (December 23rd), the bank's new fixed-rate products will include a two-year home loan at 3.99 per cent gross for a fee of one per cent at 60 per cent loan-to-value (LTV).
The new tracker deals are available from 3.49 per cent gross for a two per cent fee at 60 per cent LTV.
Press manager for Alliance and Leicester, Debbie Hughes, told FT Adviser that the lender would also no longer be offering its buy-to-let product through brokers, but instead via branches and its mortgage direct telephone line.
She added that it was taking a more stringent approach at the present time, and the measures would help control lending volumes.
Last week, Natwest and Royal Bank of Scotland announced that they were reducing interest levels on their fixed-rate mortgage products by up to 0.4 per cent.
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