A&L launches 1.99% tracker
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Alliance & Leicester Intermediary Sales has just launched a broker only two year tracker mortgage starting from 1.99%.
The tracker will follow base rate at +1.49% and is available at 70% LTV with a 2% booking fee. The mortgage is available for both purchases and remortgages, and comes with free valuations.
Readers' comments (2)
Avenue & Co Private Finance | 13 Nov 2009 2:24 pm
This mortgage deal offers a the most competitive headline rate out of any lender today. The 2% arrangement fee (can be added to loan however) will deter many savvy borrowers.
However, it is important also to note that A&L variable rate is 4.99% - amongst the highest of many lenders.
There is a cap of £500k as a loan and will lend a generous 4.5 x joint income.
A welcome move by this huge banking group and hopefully more lenders follow suit.
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Bill Wells | 13 Nov 2009 4:38 pm
Why aren't lenders more transparent. This is a 2.99% (base plus 2.49%) without a fee. It is still competitive but the way it is advertised makes A&L look a bit 'trick dicky'.
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