New mortgage deals from Alliance and Leicester - News at Best UK Mortgages - Friday, 1st July 2005

Alliance and Leicester has re-priced its fixed price mortgages and has announced a new base rate tracker fee-saver product.

The new mortgages, which are available immediately, start at a 4.44 per cent rate for a fixed two-year, and 4.95 per cent for a five-year fixed mortgage. Customers may borrow up to 95 per cent of the value of their property.

The new two-year base tracker mortgages have a current rate of 4.98 per cent, the Bank of England base rate, plus 0.95 per cent for the life of the mortgage.

Stephen Leonard, director of mortgages at Alliance and Leicester said: "Alliance and Leicester has once again benefited from buying money at lower rates on the money markets and is able to pass these onto our customers with lower interest rates on our latest mortgages.

"Our new two year Base Rate Tracker Feesaver will appeal to those customers who prefer the transparency of a base rate tracker deal and would like a little help towards arranging their mortgage," he added.

Alliance and Leicester also offers remortgage customers a free mortgage transfer service or £250 cash back.