A&L launches lifetime trackers for brokers
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Alliance & Leicester Intermediary Sales is launching two lifetime trackers exclusively for brokers starting at 2.89%.
The first product is a lifetime tracker priced at Bank base rate plus 2.39%, currently 2.89%, at up to 70% LTV with a £495 fee.
The second lifetime tracker deal is priced at base plus 2.49% at up to 70% LTV with no fee payable.
Both products are available for both purchase cases and remortgages.
A 2% early repayment charge will apply for the first three years for both products, with an unlimited monthly overpayment option and lump sum capital repayments of £500 or more.
Any overpayment credit can be used to take a payment holiday, reduce monthly repayment or can be borrowed back.
Ricky Okey, managing director of A&L Intermediary Sales, says: “For those brokers looking to transact as much business as possible in the run-up to the end of the year, these products are aimed at supporting that goal.
“With interest rates remaining on hold for the foreseeable future, these lifetime tracker mortgages give yet more value and choice for customers within the mortgage range we currently offer.”
The products will be available from November 20.
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