Abbey launches six-month fixed rate of 4.54 per cent on its Flexible Plus

It ia aimed at those who are unsure about taking a longer-term fixed rate in the current mortgage market, it has the added bonus of no extended tie-in if borrowersdecide it's no longer the right mortgage for them. The low introductory fixed rate will also help people manage their finances in the early days of the mortgage when money is needed most.

The key features are:

* Six-month fixed rate of 4.54%. This is the lowest fixed rate without an extended tie-in available in the marketplace.

* Guaranteed tracker at the end of the fixed rate of 0.75% above the Bank of England base rate, for the life of the loan (0.75% differential guaranteed not to change).

* 90% LTV and completion deadline of 31 May 2005.

* £349 arrangement fee.

* Available to first-time buyers, movers and re-mortgagers.

* No early repayment charge.

* Ability to overpay, underpay, take payment holidays, withdraw

available funds and offset savings.

Gary Hockey-Morley, Abbey's Director of Mortgages

said, "With continued uncertainty about base rate movement, this is an ideal mortgage with a great rate. It gives certainty of payments in the initial months and, later on, if borrowers find it's no longer suitable, we're giving them the flexibility of moving to an alternative, although there will also be plenty of reasons for staying with us. The ongoing tracking differential of 0.75% above base rate is still an excellent tracker deal and this also includes all the benefits of a flexible mortgage."