Alliance & Leicester launches best-buy 2-year tracker

On Friday 24 April, Alliance & Leicester is launching a best-buy 2-year tracker at Base Rate plus 2.45 per cent (currently 2.95 per cent) with a £499 fee and 75 per cent Loan-to-Value (LTV). The new product is available to homebuyers and remortgagers borrowing up to £250,000.

The best-buy tracker launch follows the new fee-free 3 and 4-year fixed rate remortgage and homebuyer deals, launched last week, offering rates of 4.69 per cent and 4.79 per cent respectively and available up to 75 per cent LTV.

Nici Audhlam-Gardiner, Alliance & Leicester Mortgage Director, commented: "We remain committed to offering borrowers highly competitive deals whether remortgaging or buying a new home. Abbey Mortgages research shows that for those looking to remortgage, a third are looking for a tracker and of those, over half will choose a 2-year tracker. The 2-year tracker is second in popularity only to a 2-year fix and with a best buy rate of Base Rate plus 2.45 per cent, borrowers should seriously consider this deal."

For more information on Alliance & Leicester's mortgage products, visit alliance-leicester.co.uk