New fixed rate and tracker products from Alliance and Leicester

Alliance andamp; Leicester is re-entering the tracker market with a very competitive two year product featuring a market leading rate of 4.89%.

A new two year fixed rate at 4.49% is also being added to the range.

The new offers will be available from Friday 14 November 2008 via brokers, Alliance and Leicester branches and by telephone from Mortgage Direct and include: Two Year Fixed Rate 4.49%.

Fixed until 31 December 2010, then Standard Variable Rate.

1% product arrangement fee.

Customers can borrow up to 60% of the property value.

10% overpayment facility.

Maximum loan ?1 million.

Two Year Base Rate Tracker 4.89%: Bank base rate +1.89% then Standard Variable Rate.

1% product arrangement fee.

Customers can borrow up to 60% of the property value.

Maximum loan ?1 million.

Full flexible features: Richard Taylor, Head of Mortgage Products at Alliance and Leicester, comments: "We have enhanced our current range of mortgages by reintroducing a two year tracker product into the portfolio and a new two year fixed rate.

They are very competitive products offering customers the choice of setting their monthly payments or tracking the Bank of England base rate.".

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