Abbey, one of the leading personal finance companies in the UK, have launched a range of new-build and flexible mortgage deals that are available from today.
Abbey rebranded in September 2003, shortening their name from Abbey National and giving their customer policy and products an overhaul. Like most lenders, Abbey are seeking to remain competitive in the 2006 UK mortgage market by offering a diverse range of products.
Abbey has introduced the new-build fixed-rate and tracker two-year mortgages to the market at the rate of 4.69 per cent. The minimum deposit possible for these loans is 10 per cent. Abbey has also upgraded their New Flexible Plus product, which will be introduced to the market at the rate of 5.09 per cent. This represents a 0.16 per cent reduction on its old loan rate. This mortgage deal tracks the Bank of England base rate, plus an extra 0.59 per cent.
On top of these two new mortgage deals, Abbey has also brought out a new fixed-rate deal at 4.99 per cent and a two-year fixed-rate product at 4.54 per cent for intermediaries. An expert from Abbey was reported as saying "the completion deadlines (for new-build mortgages) are 12 months longer rather than six months to reflect the fact that buying a new property can sometimes take longer than buying a re-sale property."
Abbey launch new-build and flexible mortgage deals
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Abbey launch new-build and flexible mortgage deals
Tue, 14 Mar 2006
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