Abbey tweaks fixed rate mortgages - Mortgages - News - Moneyfacts


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 It is now over 6 months old so the content may be out of date.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 Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Do you think your home will rise in value?

There’s been a lot of talk recently about the rate of house price growth slowing, but is it affecting your personal expectations? According to research, it could be, with fewer people now expecting the value of their property to increase.

Confidence among “second steppers” is on the rise

We all know how difficult it can be taking that first step on the ladder, but what about the second step? In many cases, getting onto the next rung can be just as challenging, but happily, confidence among this cohort appears to be on the rise.

Mortgage arrears on the rise

Mortgage arrears had been falling for several years, driven by low mortgage rates and improved affordability – but unfortunately, that’s come to an end, with cases of mortgage arrears having now risen for the second quarter in a row.