Special mortgage rates for Abbey current account holders

| November 10, 2009 | 0 Comments

Abbey and Alliance & Leicester are offering preferential mortgage rates to some existing customers.

The lenders, both part of the Santander group, are enticing current account holders who have been with the banks for six months or more with new deals available in branch or on the telephone.

The range includes fee-free tracker and fixed-rate home loans, plus an offset mortgage, all of which are available to remortgagers and house purchasers.

A two-year fix comes in at 3.89% and trackers start from 2.99% for a three year; all are available at 75% loan-to-value ratio.

Abbey’s director of mortgages, Nici Audhlum-Gardiner, says: “We’ve already seen a lot of interest for these deals – around 25% of our sales in the branches are to existing current account customers who are taking advantage of these great offers.”

Last month, parent company, Santander, reported that it had extended its share of the UK mortgage market to 20.5%, achieving £5.1 billion of net lending in the first nine months of the year.

In addition, a cautious approach to lending meant that arrears of three months or more stood at 1.34% in the third quarter, compared to an industry average of 2.43%.

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