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Abbey launches new mortgages, reduces rates

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by David Masters
Abbey launches new mortgages, reduces rates

Abbey today launched two new no-fee fixed-rate mortgages.

Both the Remortgage Solution and the Homebuyer Solution are three year no-fee mortgages at 4.59% with up to 75% loan to value (LTV).

Free valuation and free legal fees are included in both packages.

The lender has also reduced rates in its two and three year 60% LTV remortgage products.

The two year remortgage is now fixed at 3.84% with a £995 fee, whilst the three year deal is 4.14% with a £995 fee.

In addition, a limited offer means borrowers can sign up for Abbey’s two year tracker deal with no fee at 4.09% with 60% LTV.

Nici Audhlam-Gardiner, Abbey Mortgage Director, said that with interest rates at an all time low, now is the ideal time for borrowers to lock into the security of a fixed-rate deal.

Recent research by the Co-operative Bank found that many customers are overpaying on their mortgage with their extra money gained from low interest rates.

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News posted: February 27, 2009

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