by Mark Johnston
Abbey Launches New Mortgage Deals.
Following the success of the funding for lending scheme abbey is the latest lender to cut its rates on a range of mortgage products.
In may this year Abbey for Intermediaries is launched a 1.94 per cent two year fixed rate which was available up to 60 per cent loan to value (LTV) and had a £1,495 fee. Although this deal was only available for just seven days.
This deal was then followed closely by another two seven day specials which included a five year fixed rate of 2.99 per cent which came with no fees. The 2.99 per cent five year fix was available up to 70 per cent loan to value (LTV).
Along with this deal there was also another five year deal with a fixed rate of 3.19 per cent on up to 75 per cent loan to value (LTV). Both of these products were available to all key accounts.
At the time of launch Abbey managing director Miguel Sard said ”These products are available exclusively through all key accounts and they also come with the added benefit of the Homebuyer or Remortgage Solution, to help borrowers keep their costs down.”
The homebuyer solution offers borrowers a free standard mortgage valuation and £250 cashback on completion, while the remortgage solution offers a free standard mortgage valuation, and either free legals or £250 cashback on completion.
More recently Abbey launched a range of fee free higher loan to value (LTV) mortgages with rates starting from 4.89 per cent.
The new products include a two year fixed rate of 3.79 per cent available up to 85 per cent loan to value (LTV) for both home buyers and remortgages and also a two year fix of 4.75 per cent up to 90 per cent loan to value (LTV) is now available to home buyers.
In addition to these deals there is also a three year fixed rate of 4.89 per cent which also available on up to 90 per cent loan to value (LTV).
Not forgetting a two year fixed rate of 4.49 per cent available up to 90 per cent loan to value (LTV), however this is only available to first time buyers. Neither of the new products carries an initial fee.
Though the most current deals to be added by the lenders already competitive range of products is a 2 year fixed rate mortgage which is offered at just 2.14 per cent for 60 per cent loan to value (LTV). The fee for this deal is low too at just £995.
Also a two year tracker deal has been launched and this comes with a rate of 2.34 per cent. This particular deal is available on up to a 70 per cent loan to value (LTV) ratio and it too comes with a fee of just £995.
A spokesperson for the lender said “we are pleased to support borrowers with a higher loan to value with the launch of these new best buy deals”.
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