12Nov
Lenders unveil new mortgage deals
Lenders have been unveiling new mortgage products following last
week's Bank of England base rate cut.
Alliance & Leicester has brought out a pair of two-year deals
at up to 60 per cent loan-to-value (LTV), with one being fixed and
the other a tracker.
The fixed-rate deal will stay at 4.49 per cent until December 2010
and the tracker will charge at 1.89 per cent above the base
rate.
Head of mortgage products at Alliance & Leicester Richard
Taylor said the products were "very competitive".
Yesterday, Lloyds TSB and Cheltenham & Gloucester launched a
range of new trackers.
Most of these were two-year deals at maximum LTVs of 60 or 75 per
cent and rates that ranged from 4.39 per cent to 5.09 per cent, but
both LTVs also included an 'All Weather' product that can be
converted to a fixed-rate deal at any time.
