The two-year fixed rate has a reduced arrangement fee and is available at 4.95%, fixed until December 30 2006. Customers can borrow up to 95% of the property value. The arrangement fee is £395, reduced from £595.
A two-year discounted rate comes with a 2.40% discount off Alliance & Leicester's standard variable rate.
Mehrdad Yousefi, head of intermediary mortgages at Alliance & Leicester, says: “Our mortgage deals are consistently competitive and these latest improvements to our deals make them some of the best in the market. We've slashed the arrangement fees on our standard two-year fixed and two-year discounted products by £200 whilst still offering up to 95% LTV on all our products.
“These deals demonstrate our ongoing commitment to mortgage intermediaries and our determination to provide great value products to meet the needs of their clients.”