Alliance and Leicester has announced a new tracker mortgage with a headline rate of less than 6 percent.
The new Alliance and Leicester mortgage is a two year base rate tracker with a 5.98 percent headline rate and a maximum loan to value of 75 percent. There is an arrangement fee of just under GBP1,000 and borrowers can take up to a maximum of GBP1 million.
The typical two year fixed rate mortgage rate has just gone over 7 percent so this sub 6 percent figure is certain to attract keen interest. It offers a real alternative for customers and shows them that the Alliance and Leicester are really doing what they can for customers.