This means that offers can now be valid for up to 12 months.
Jeff Scott, Abbey's head of mortgages said: "We realise that the new build market is attractive for purchasers but that exchange and completion of contracts can sometimes take longer than usual. We have therefore introduced an extended mortgage offer. This means customers can now have up to 12 months to complete on their mortgage once they have secured their offer. Our new build mortgages offer very good value for money, with a range of fixed and tracker rates."
Details of Abbey's new build service:
· Abbey's two-year tracker, and two- and five-year fixed new build mortgages are still available.
· Dedicated new build teams manage applications from application to completion.
· Abbey guarantees to send out offers within ten working days on all valid applications up to 75 per cent loan to value.
· Booking fees can be added to the loan on all new build mortgages.
