Its two-year fix is at available at 4.99 per cent, up to 90 per cent loan-to-value (LTV), while its three-year new build tracker is available at 4.84 per cent.
As part of the product enhancements, Abbey has also changed its rates on a number of existing products. The lender has altered its mortgage product rates for its two-year tracker, to 4.37 per cent for movers and first-time buyers (FTBs), up to 90 per cent loan-to-value (LTV), with free valuations up to a maximum property value of £2.5m. As part of the product, £250 is available as cashback on completion.
Abbey has also reduced the rates on its two-year tracker product for remortgage customers by 0.11 per cent to 4.37 per cent, with the booking fee reduced to £597.
It has also reduced its booking fees on its new build two-year tracker product in addition to its five-year tracker mortgage. A number of Flexible Plus mortgages booking fees have also been reduced by £100 to £499.
Announcing the product changes, Jeff Scott, head of mortgages for Abbey, said: “Remortgagers and movers will be getting good value this Summer with Abbey’s special offers. We have cut rates and booking fees on many mortgages, and there is a three-year tracker for new build customers. With increasing demand from people looking for tracker rates, our range offers some of the best deals on the high-street.”
Rod Murdison, proprietor of Murdison & Browning, said: “Abbey has been appearing as one of the cheaper lenders regularly, especially for low-cost remortgaging. Smaller lenders can sometimes have cheaper fees, but what you have to bear in mind is the total cost of lending over the term. But I want to feel confident that Abbey has the administration capabilities to handle it.”
