Alliance and Leicester comments on today's MPC decision to maintain base rate at 5.5%

Edited by the Insidemoneytalk editorial team Jan 14, 2008

Stephen Leonard, Director of Mortgages at Alliance and Leicester, said:

"There was wide speculation about this month's interest rate decision but today's announcement to maintain interest rates at 5.5% has not come as a shock.

First time buyers looking for a mortgage deal should consider taking out a fixed-rate mortgage which will give them the security of fixed monthly payments.

A tracker mortgage is a good option for homeowners who are financially flexible and looking to take advantage of any further interest rate cuts during the next 12 months.".