30
Nov
Abbey and Alliance & Leicester cuts mortgage rates
Mortgage rates have been cut at the Abbey and Alliance &
Leicester building society.
Customers with two-year purchase and remortgage trackers could see
their rates cut by 0.3 per cent, bringing rates to 2.94 per cent on
a mortgage with up to 75 per cent loan-to-value (LTV).
First-time buyers are also being offered a special deal of a 90 per
cent LTV on a three-year, fixed-term loan at a rate of 5.99 per
cent and a £495 fee.
Nici Audhlam-Gardiner, director of mortgages at Abbey and Alliance
& Leicester, said: "With speculation that the Bank of England
base rate might stay put for a while longer, trackers are back in
favour and to help those borrowers looking for a tracker, we have
reduced rates."
Currently, the Bank of England base rate stands at 0.5 per cent -
its lowest historic level.
The building society has also launched a new two-year fixed rate
product at 4.18 per cent with an LTV of 75 per cent and a £995
fee.
