30
Oct
Lender cuts fixed rates
Alliance & Leicester has announced cuts to its fixed mortgage
rates.
The lender has said it is to reduce its two-year fixed rate from
5.99 per cent to 5.79 per cent, while the three-year fixed rate
will be trimmed from 6.24 per cent to 5.94 per cent and the Five
Year Fee Saver Fixed Rate has been lowered from 6.89 per cent to
6.59 per cent.
Head of mortgage products Richard Taylor said the cuts are "great
news for people looking for a new deal".
In other mortgage news, the Building Societies Association has
disclosed that gross lending rose in September.
Last month saw £3,105 million lent, compared to £2,769
million in August.
The seasonally adjusted increase was from £2,625 million in
August to £2,946 million.
Such figures follow data from the Bank of England stating that
mortgage lending rose in September for both house purchases and
remortgages.
