Mortgage news from one of the biggest lenders in mortgages the Abbey bank
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. Read more
Abbey’s 1.99% Fixed Mortgage Deal.
Abbey has launched a market leading two year fixed rate mortgage with a fee of 1.99 per cent, however it is only available for seven days, starting on Friday 23rd November.
The mortgage has the lowest interest rate in the fixed rate market, but there is a fee of £1,494 which means it might not be suitable for some borrowers. Also this deal is only available through an intermediary, which means borrowers will need to go through a broker. Read more
The interest rates at which banks lend money to each other and on which fixed rate deals are based have recently been on the rise, therefore borrowers on variable rates who are considering switching to a fixed rate should get their skates on if they want obtain the cheapest deals.
Clare Francis, site editor at moneysupermarket.com, stated “with inflation remaining stubbornly above the governments 2% target, pressure is mounting on the Bank of England to start increasing interest rates”. Read more
Abbey for Intermediaries, part of the Spanish Santander group, reduced its mortgage rates by up to 0.2% and have reviewed some of their products and make some great enhancements. Read more