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Abbey enhances product range

Amanda Jarvis

April 24, 2006

The range includes:
* Special offer two-year fixed rate at 4.69 per cent
* New two-year tracker at 4.44 per cent
* New seven-year fixed rate for the same price as a five-year fixed rate
* New five-year fixed rate at 5.24 per cent with 12 month completion deadline exclusively for 'new build' properties
* New five-year fixed rate at 5.39 per cent with no booking fee (remortgage only)
* Maximum loan for first-time buyer mortgages at 97 per cent loan-to-value increased to £250,000 and income multiples increased to 3.75 x single and 3 x joint income

Ricky Okey, managing director of Abbey for Intermediaries, said: “We aim to support movers and remortgagers with the best offers possible. This means competitive products, intelligent lending criteria and excellent service. The improved lending criteria on our 97 per cent loan-to-value mortgage means that we can offer assistance to even more first-time buyers. We also continue to expand the number of products with 12-month completion deadlines to support new build clients.”

Fixed rate deals
Term Maximum LTV Rate Fee
– Two-year fixed 75 per cent 4.69 per cent From £549
– Five-year fixed 90 per cent 5.39 per cent none
– Seven-year fixed 95 per cent 5.14 per cent £449

Tracker deals
Term Maximum LTV Rate Fee
– Two-year tracker 75 per cent 4.44 per cent £649 (up to £500,000)
– Two-year tracker 75 per cent 4.44 per cent £699 (up to £500,000)
– Two-year tracker 75 per cent 4.44 per cent £849 (up to £2m)
– Two-year tracker 75 per cent 4.44 per cent £899 (up to £2m)

New build deals
Term Maximum LTV Rate Fee
– Five-year fixed 90 per cent 5.24 per cent £399

* Abbey's Flexible Plus, stepped, cashback and best buy capped rate mortgages are still available.
* Booking fees can be added to loan on all mortgages, except five-year capped rate.


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