27
Aug
New mortgage rate cuts revealed
Alliance & Leicester has announced a series of new cuts to its
mortgage rates as it unveils a number of new products.
In the latest set of reductions by a lender following recent falls
in swap rates, the bank has said it is trimming between 0.1 per
cent and 0.55 per cent off its products.
The changes include reducing its two-year tracker rate to 5.99 per
cent from 6.14 per cent, bringing the two-year fixed rate down to
6.19 per cent from 6.64 per cent and lowering the three-year fixed
saver to 6.89 per cent from 7.09 per cent.
In addition to these changes Alliance & Leicester is
introducing a new two-year base rate tracker at 6.99 per
cent.
The move follows a number of announcements from other lenders in
the last week, including Leeds Building Society reducing some deals
by 0.5 per cent and Nationwide announcing cuts of up to 0.2 per
cent on some fixed-rate products.
