It is launching market leading rates for two, three and five year mortgages, at rates starting at 3.99 per cent, offering some attractive alternatives for customers who wish to lock in to the current low rates for the longer term – including fee-free options.
The new fixed rates are as follows:
Two-year fixed rates:
3.99 per cent with a £995 fee for 60 per cent LTV
4.29 per cent with a £995 fee for 75 per cent LTV
3.99 per cent with a £1,995 fee for 75 per cent LTV
Three-year fixed rates:
4.39 per cent with a £995 fee for 60 per cent LTV
4.69 per cent with a £995 fee for 75 per cent LTV
Five-year fixed rates (remortgage options shown):
4.99 per cent with a £995 fee for 75 per cent LTV or with no fee in branch and by telephone for a limited offer period
Abbey is also reducing its two-year trackers from Wednesday. The rates are as follows:
3.69 per cent with a £1,995 fee for 60 per cent LTV
3.89 per cent with a £995 fee for 60 per cent LTV
4.04 per cent with a £1,499 fee at 75 per cent LTV
To help first time buyers and those moving home, Abbey has removed the fee on its five-year fixed rate 75 per cent LTV mortgage at 5.09 per cent. In addition this has the homebuyer solution, which includes a free valuation and £250 cashback. This is available in Abbey branches and by telephone for a limited offer period.
Nici Audhlam-Gardiner, Abbey mortgage director commented: “In 2009, Abbey remains open for business. We have market-leading fixed rate products at two, three and five years, allowing people to fix in at a low rate to guarantee certainty of their monthly payments. We also remain committed to helping first time buyers and those looking to move, and have introduced a new product with no fee to help them.”
