New deals from Alliance&Leicester

Alliance & Leicester has launched a new range of mortgage deals, which are available from today (March 5th).

The lender has announced a number of new buy-to-let deals, along with a host of three-year and five-year deals, as well as a new tracker mortgage.

The most competitive rate being offered is 5.34 per cent (down from 5.44 per cent) on a buy-to-let two-year fixed-rate deal.

Following this is the three-year-fixed rate mortgage, which comes with an interest rate of 5.35 per cent before reverting to Alliance & Leicester's standard variable rate.

"The introduction of these new products reinforces Alliance & Leicester's commitment to the mortgage market," said Richard Taylor from the lender.

"The new remortgage Base Rate Tracker product is a good option for people who are coming to the end of their existing deal as it will allow them to move to Alliance & Leicester at a low cost.

"We have a further addition to our buy-to-let portfolio with a fixed-fee product to help landlords with smaller mortgages and we have reduced the rates on our existing two and three-year fixed-rate products, offering landlords a choice of rate, fee and term in which to fix their payments," he continued.

Mortgage borrowers will be hoping that the Bank of England's Monetary Policy Committee will announce a cut to the base rate of interest when it meets tomorrow (March 6th).

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