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Abbey tweaks fixed rate mortgages

Abbey tweaks fixed rate mortgages

Category: Mortgages

Updated: 12/03/2009
First Published: 11/03/2009

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Abbey has tweaked its fixed rate mortgage range by withdrawing several two and three year products, and replacing them with a selection of two, three and five year fixed rates.

Option one: fixed rate mortgages with no extended tie-in for house purchase only with a rate of 3.89% to 2.6.11. This option has a maximum loan-to-value (LTV) of 60% and a fee of £995. There is also an option of a 85% LTV mortgage, which has a rate of 5.84% to 2.6.12 and a fee of £995. Consumers in England, Wales, Northern Ireland and the Isle of Man can also take advantage of a free valuation (maximum £1,190) and a £250 rebate.

Option two: fixed rate mortgage available via direct business only with no extended tie-in and no fee. The rate is 5.64% to 2.6.12, with the same incentives as shown above offered.

Option three: fixed rate mortgage available via direct business with no extended tie-in. This mortgage has a rate of 3.95% to 2.6.14, a maximum LTV of 60% and a fee of £995.

All the new products are competitive in their respective marketplaces but it's the five year fixed deal at 3.95% with a £995 that really catches the eye. In addition, a number of incentives make it even more attractive for consumers who are able to raise the necessary 40% deposit.

The products earn four out of five Moneyfacts stars.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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