Abbey unveils new fixed rate loans

Fixed rate loans are the order of the day at Abbey, with the launch of a two-year fixed mortgage deal.

The first new product charges 5.19 per cent with no early redemption penalties. However, there is a £349 booking fee on this product.

Nevertheless, this latest offer includes the option to add the booking fee to the loan, thereby making it easier for customers to manage the upfront costs of moving house or switching their mortgage.

The 5.19 per cent rate is for a maximum LTV of 60 per cent. If borrowers prefer to receive up to 75 per cent or 90 per cent then the charge increases to 5.34 per cent/5.44 per cent accordingly.

Meanwhile, rates rise to 5.49 per cent, 5.64 per cent and 5.74 per cent respectively where borrowers opt to include the Home Buyer, Remortgage benefit or Free Valuation options.

With the latter choice customers can receive up to £1,100 with Abbey arranging and contributing to the cost of legal work involved.

Should customers choose to use a solicitor, Abbey will provide £250 as a contribution towards legal costs.
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