Money News
Abbey has announced the launch of a new range of mortgages that have no up-front costs. The package includes no legal fees - hence covering your solicitor's fee and other charges, including land registry fees, on up to £500,000 of your property price; no valuation fees on properties valued up to £2.5million, no booking / application fees, a 50% cash back on contents insurance after one year, 3 months' free payment care and a 15% discount with Britannia Removals company.
Abbey estimates a typical home mover can save £2,000 in fees and charges (assuming an average UK house price of £174,827 based on Land Registry data) by taking out one of its deals.
The no up-front costs mortgage range includes three of Abbey's most popular mortgage deals: 2 and 5-year fixes and a 2-year tracker.
More specifically, it includes a 2-year fix at 5.34% with an 18 month extended tie-in at a rate equivalent to the bank's standard variable rate; 6.37% - with no tie-in; a 2-year tracker at 5.39% with an 18 month extended tie-in; 6.43% - with no tie-in; and a 5 year fix at 5.89% with an 18 month extended tie-in, 6.32% with no tie-in.
All loans are available for 90% LTV.
Worth pointing out is that early redemption charges will apply.
18 April 2007 © Moneyextra.com
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