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Abbey launches four-year fix at 5.99%

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by Gill Montia

Abbey is offering a new four-year fixed-rate mortgage with a maximum 85% loan-to-value (LTV) ratio at a rate of 5.99%.

The deal is available at Abbey branches or by telephone, for both house purchasers and remortagers.

A £995 fee applies and the Homebuyer Solution comes with a free valuation and £250 cashback on completion, whereas the Remortgage Solution offers a free valuation and free legal work.

The lender is also launching a four-year fix for existing current account customers with a rate of 4.99% and no fee.

The deal is available at up to 75% LTV through branches and over the telephone also as a Homebuyer Solution or Remortgage Solution.

Finally, a three-year fix at 4.59% and with a fee of £495 is available at up to 75% LTV for remortgage customers but only for certain staff at UK universities sponsored by the Santander Universities programme.

All the new offers are likely to require snappy decisions by prospective borrowers as according to a recent report by Moneyfacts, the average shelf-life of a fixed-rate loan is down to 14 days.

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Story link: Abbey launches four-year fix at 5.99%

News posted: July 18, 2009

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