Alliance & Leicester reduces fixed rates

Alliance & Leicester has reduced rates and fees on a selection of its fixed rate mortgages, enabling customers to borrow up to 85% of their property value.

Its range includes a two-year fixed rate of up to 85% LTV, with a 5.64% rate, 1% arrangement fee and a maximum loan £250,000.

It is also offering a three-year fixed rate up to 85% LTV, a 5.99% rate, 1% arrangement fee and maximum loan £250,000.

Nici Audhlam-Gardiner, director of Alliance & Leicester Mortgages, says: “Our mortgage portfolio is expanding and demonstrates that Alliance & Leicester is committed to offering a comprehensive range of mortgage products.

“We have reduced our two-year fixed rate offer and introduced new three year fixed rates with lower arrangement fees. Our portfolio offers market leading rates and I am confident that they will prove to be popular with our new and existing customers.”