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Alliance & Leicester launches new discounted base rate tracker

Alliance & Leicester has launched a new discounted rate mortgage followed by a lifetime base rate tracker.

The discounted base rate tracker runs as 1.50 per cent below the Bank of England base rate, currently 4 per cent, for two years. This gives it a rate of 2.50 per cent at launch.

For the remaining term it is Bank of England base rate plus 1.50 per cent.

There is no arrangement fee and the loan to value available is 95 per cent.

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