New mortgage deal introduced by Alliance Leicester

1/03/2007

A new mortgage deal has been introduced into the market today by Alliance and Leicester. This type of deal could be suitable for people who are looking to remortgage also first-time buyers.

The new mortgage deal is fixed at 4.99 per cent for the first 2 years, it then changes to a tracker mortgage, which will stay at 0.74 per cent, leaving the deal steady over the base rate for a 1-year period, finally this will alter to a standard variable rate.

Spoke further, a financial services provider, Stephen Leonard stated: "First-time buyers are the lifeblood of the housing market and so we've responded to their needs by launching a new stepped deal aimed at keeping their costs low during the early years of homeownership."

From a different perception, the financial services provider will have a new deal, which will interest people when remortgaging.

At the start of March 2007, Alliance and Leicester put forward different types of mortgages, a buy-to-let deal where it included a 2-year fixed rate with a lending rate of 5.18 per cent.

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