Abbey's Remortgage Index which asks homeowners with a mortgage what type of mortgage they would opt for and the reason for their choice discovered that the number of people holding out for a lower base rate has fallen from 3.1 million (17 per cent) to 1.3 million (7 per cent) in just two months.
Abbey this week launches a range of mortgages offering the lowest fixed rates in 10 years . From Thursday 30 April, the new range of competitive 75 per cent Loan-to-Value (LTV) deals for remortgagers will be available through the branch or over the telephone for a limited time only. The rates include a 3-year fix at 4.09 per cent, a 7-year fix at 4.99 per cent and a 15-year fix at 5.38 per cent all with a £995 fee and a maximum loan size of £250,000.
Nici Audhlam-Gardiner, Director of Mortgages at Abbey commented: "In our new range, we are offering borrowers looking to remortgage an incredible deal with the lowest fixed rates in 10 years. We continue to offer borrowers market-leading rates across our extensive range. For those looking to remortgage, it's not just the rate that's good but the choice of terms means there's something for everyone. These mortgages are only available until the 14 June, so borrowers need to move quickly to avoid disappointment."
In addition to the lowest rates in 10 years, Abbey is also launching two other market-leading fixed rate mortgages, an 85 per cent LTV 5-year fixed rate at 5.74 per cent with a £995 fee and a maximum loan size of £550,000. In addition this has the Homebuyer solution attached which includes free valuation and £250 cashback on completion of the mortgage. The other is a best-buy 10-year fix at 4.99 per cent with a 75 per cent LTV and a £995 fee.
To reward our loyal customers, Abbey is also reducing the rate on its popular 2-year fix at 60 per cent LTV for existing current account customers to 2.95 per cent with a £599 fee.
Nici Audhlam-Gardiner added: "In the last few weeks we have extended our range so there is something to suit every borrower whether they are remortgaging, moving house or making their first step onto the ladder. We also added some fee-free mortgages too. These latest competitive additions complement the range and are a further sign of our commitment to offer good value for our customers."
