The headline rate of 2.79% is available at 60% LTV and carries a 2% fee, with the rate jumping to 2.99% with a 75% LTV.
The range also includes a two-year tracker at 3.29% at 60% LTV with a 1% fee and a the same product with a £995 fee at 3.39%.
Doug Bennett, principal of Sussex-based brokerage AWA Mortgages, says: “The rates are competitive, but are not as cheap as A&L had before.”
Comparing the two-year tracker at 3.39%, he says: “A&L’s rates are higher than Nationwide who have a deal at 3.13%, and higher than Abbey at 3.14%, and they are both charging a similar level of fees.”
But Jonathan Clark, mortgage partner at Hampshire-based firm Chadney Bulgin, welcomes the deals.
He says: “At least A&L has given us the option on the fees.
“It’s a shame the deals are only available up to 75% LTV but that’s to be expected.”
A&L are also reducing the rate on their two-year fixed to 3.89%, which has a 1% fee and is available at 75% LTV.
The new products will be available from March 13.