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New mortgages offered by Abbey
Wed, 31 Oct 2007
High street bank Abbey has unveiled a number of new mortgage options.

Designed to enable borrowers to fix their repayments for a set period of time before switching to a tracker rate, the Fix and Flex mortgages are available from October 31st 2007.

Those taking out a mortgage can fix the repayments for a period of six or 12 months, with a rate of 6.09 per cent or 6.14 per cent applicable to the two time options respectively.

After this fixed term comes to an end, the mortgage repayments will track at 0.49 per cent above the Bank of England's base rate for the remainder of its life.

Nici Audhlam-Gardiner, Abbey's head of mortgages, said: "The current climate is an uncertain one and we know that uncertainty drives demand for fixed-rate products, at least in the short-term."

She added that the mortgage will suit borrowers who wish to make overpayments, underpayments and take payment holidays.

Abbey's range of mortgages includes fixed and tracker products, while the bank also offers buy-to-let mortgages for borrowers interested in becoming landlords .

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