Available on a two-year or five-year fixed rate, or two-year tracker the products include no valuation fees on properties valued up to £2.5 million. The range includes three months free payment care, no booking or application fees and 50 per cent cashback on contents insurance after one year.
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The two-year fix is available at an initial rate of 5.34 per cent, with an extended tie in of 18 months, or at a rate of 6.37 per cent with no tie-in. Its two-year tracker is available at 5.39 with an extended tie-in, or 6.43 per cent with no tie-in, while its five-year fixed rate is available from an initial 5.89 per cent.
Nici Audhlam-Gardiner, head of mortgages at Abbey, said: “For a typical home mover, legal, valuation and booking fees can add on average £2,000 which is a significant outlay when you are already taking out a mortgage and coping with Stamp Duty.
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“Abbey’s deals enable movers to minimise their upfront costs and avoid the worry of sourcing valuation and conveyancing services.”
Peter O’Donovan, mortgage manager at Bestinvest, said: “Abbey has improved its service levels over recent weeks, but this product didn’t make me sit up and take notice. The rates aren’t the most competitive, and any savings made by the incentives are then taken up by the rate.”
