Alliance & Leicester has launched a new range of prime mortgages today.
The range includes a two-year base rate tracker at 4.99% and a 0.30% increase in its SVR for new customers.
Stephen Leonard, director of mortgages at Alliance & Leicester, says: We continue to present a range of mortgages that offer great choice and value. Our fixed rates remain competitive and we have a two year fixed rate deal (5.24%) priced below the Bank of England Base Rate (5.25%).
The three year fixed rate will suit those who seek budgetary security over a longer period than two years but dont wish to commit to a deal for five years.
“We also have a base rate tracker available at sub-five percent for those new and existing customers who are buying or moving house and prefer variable deals.
A&L’s new range follows the decision by the Bank of England to raise interest rates to 5.25%.