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A&L cuts SVR by 0.5%

Alliance & Leicester has dropped its SVR by 0.5% to 5.84% from January 2.

The lender has also launched a two-year tracker deal to replace those withdrawn following the base rate cut.

The new tracker is available at 3.99% for up to 60% LTV with a 1% fee.

Richard Taylor, head of mortgage products at A&L, says: “We are delighted to be able to bring these new products to market, demonstrating that A&L is competing strongly in the new business mortgage market.

“This two-year tracker is competitive and represents great value for customers.”

All of A&L’s mortgage products are available to existing customers, enabling those on SVR to swap to a new deal if it better suits their needs.


Chase Capital Finance fined £35,000

Didcot Magistrate’s Court has fined Mayson Shanti of Marcham, Abingdon £35,000 for falsely representing itself as regulated by the Financial Services Authority.

BBA publishes business support principles

The British Bankers’ Association has published a set of principles outlining how banks will support business customers through the downturn.


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