The limited offer of a 2.99% 2-year fix at 60% loan-to-value (LTV) is available to Abbey banking customers and has a £599 fee and maximum loan size of £200,000. Abbey is also introducing a 5-year fixed rate mortgage at 3.95% with a 60% LTV and £995 fee and maximum loan size of £250,000.
Nici Audhlam-Gardiner, Abbey mortgage director, commented: "This is the lowest mortgage rate we have offered. We want to continue to offer our customers the lowest rates and the best deals we can. We wrote nearly one in three mortgages in 2008 and continue to offer our customers value for money. That's why we're giving new borrowers a choice of these two competitive deals allowing them to guarantee security of their monthly payments."
The latest range of Abbey mortgages includes products at 60, 75 and 85% loan to value including those specifically looking to move home or remortgage. Abbey is passing the full 0.5% on to existing variable rate mortgage customers and is reducing its SVR by 0.45% from the beginning of April.
