Alliance & Leicester has announced a 0.30% increase in its basic variable mortgage rate.
Alliance & Leicester's new basic variable rate is 6.59% (7.0% APR) with effect from June 24 2004 for new borrowers and July 2 2004 for existing borrowers.
Alliance & Leicester mortgage products that track the Bank of England base rate are also subject to change. New borrower products increased by 0.25% from June 14 2004 and existing borrower products will be increased from July 1 2004.
Alliance & Leicester's savings portfolio remains under review, however, rate changes for savingsproducts will be implemented by July 2 2004.