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Mortgage rate cuts and fee savings at Abbey
Tue, 25 Oct 2005
In a shake-up of its mortgage products, Abbey has cut the mortgage rate on two of its Flexible Plus mortgages .

The Flexible Plus Deal for Life mortgage now offers a mortgage rate of 4.99 per cent. The mortgage lender's Standard Flexible Plus mortgage has a 5.25 per cent mortgage rate with a £199 fee.

The mortgage lender also offers help with valuation and legal fees for all Flexible Plus mortgage customers. The maximum loan to value for Flexible Plus mortgages is 90 per cent.

"Flexible Plus offers borrowers the opportunity to offset savings against borrowings and comes with the added bonus of overpayments, underpayments and payment holidays," points out Lal Tawney, head of mortgage marketing at Abbey .

"This is the perfect option for borrowers that don't want to have to keep remortgaging every two or three years or tie themselves into a potentially expensive fixed rate ."

The mortgage lender also offers fixed mortgages, tracker mortgages , flexible mortgages , cashback mortgages and capped rate mortgages .

The range of services on offer at Abbey includes mortgages and savings, savings accounts, loans and credit cards, long-term investments including pensions and unit trusts, life, critical illness and unemployment cover and household insurance . It also provides offshore banking for expatriates.

Abbey is the UK's sixth largest bank by assets and the second largest provider of mortgages and savings in the UK.

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