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News: Alliance & Leicester announces mortgage rate cut

Following the decision by the Bank of England to decrease Base Rate by 0.25%, Alliance & Leicester has announced a 0.25% decrease in its standard variable mortgage rate.

A&L's new standard variable mortgage rate is 6.59% (7% APR) - with effect from August 15th for new borrowers and September 2nd for existing ones.

A&L mortgage products that track Bank of England Base Rate are also subject to change. New borrower products decreased by 0.25% on August 8th and existing borrower products will be cut from September 1st.

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