New fixed rate and tracker products from Alliance & Leicester

Alliance & Leicester is re-entering the tracker market with a very competitive two year product featuring a market leading rate of 4.89%.

A new two year fixed rate at 4.49% is also being added to the range. The new offers will be available from Friday 14 November 2008 via brokers, Alliance & Leicester branches and by telephone from Mortgage Direct and include:

Two Year Fixed Rate 4.49%

Fixed until 31 December 2010, then Standard Variable Rate
1% product arrangement fee
Customers can borrow up to 60% of the property value
10% overpayment facility
Maximum loan £1 million
Two Year Base Rate Tracker 4.89%

Bank base rate +1.89% then Standard Variable Rate
1% product arrangement fee
Customers can borrow up to 60% of the property value
Maximum loan £1 million
Full flexible features

Richard Taylor, Head of Mortgage Products at Alliance & Leicester, comments: "We have enhanced our current range of mortgages by reintroducing a two year tracker product into the portfolio and a new two year fixed rate. They are very competitive products offering customers the choice of setting their monthly payments or tracking the Bank of England base rate."