Alliance & Leicester mortgage deals withdrawn

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Alliance & Leicester mortgage deals withdrawn

Alliance & Leicester mortgage products for two-year tracker deals have been withdrawn.

The lender has announced the axing of such options from its range.

Richard Taylor, head of mortgage products at Alliance & Leicester, said there had been a high demand for the deals over the last few days.

He said the organisation had decided to remove them from its offerings "in the short term in order to manage the volume of business we are receiving at present".

Mr Taylor added that new tracker products would be announced "in due course".

Meanwhile, Safe Home Income Plans (SHIP) has reported a ten per cent increase in business relating to equity release.

This is during the last quarter.

Andrea Rozario, director general of SHIP, said the equity release sector has been affected by the economic slowdown but added that its "overall stability" during the current turmoil "is very pleasing".

She said a "clear need for equity release products" remains.

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