Alliance and Leicester announces reduction in Standard Variable Rate

Edited by the Insidemoneytalk editorial team Oct 22, 2008

Alliance and Leicester today announces a reduction in its Standard Variable Rate (SVR) from 7.19% to 6.94%, a reduction of 0.25%. The new rate will come into effect on Thursday 30 October.

Existing Alliance and Leicester customers on SVR or SVR related discounted products will see the change in their mortgage rate from Sunday 2 November.

The rate on Alliance and Leicester Base Rate Tracker products for new customers reduced by 0.50% on Monday 13 October in line with the reduction of the Bank of England base rate.

Existing customers with a Base Rate Tracker mortgage will see their rate reduced by 0.50% from Saturday 1 November.