Alliance & Leicester launches new mortgages

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Alliance & Leicester has launched a new range of mortgages, with effect from Monday, April 2nd.

The new fixed-rate packages have been designed to cope with current doubts over future changes in the Bank of Englands base rate, the lender advised.

In the case of the two-year product, this means customers may benefit from an interest rate of 4.99 per cent, less than the base rate of 5.25 per cent.

Meanwhile, the three-year mortgage has a rate of 5.29 per cent, while the five-year version has a rate of 5.33 per cent.

Stephen Leonard, director of mortgages at Alliance & Leicester, said: "Were offering some market-leading fixed rates to give borrowers that all-important budgetary certainty.

"Weve reduced the rates on all our fixed-rate mortgages to introduce some truly cracking headline rates."

Alliance & Leicesters commercial banking subsidiary revealed last week that it has now provided funding for over 60,000 fleet vehicles after doubling its efforts in the past 18 months.

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