Abbey launches new low fee range of mortgages

On Monday 1 September, Abbey is introducing a new range of deals with a £499 fee. The low fee deals are available to customers borrowing up to £250,000 and up to 60 per cent loan to value.

The low fee range includes:

• Two-year tracker at 5.94 per cent
• Two-year fixed at 5.79 per cent
• Three-year fixed at 5.84 per cent

In addition, Abbey is cutting rates again on its two and three year fixed rate deals at 70 per cent loan to value for loans of up to £250,000. Both deals are now available at 5.69 per cent. This is a cut of 0.2 per cent on the two-year deal, which has a fee of £995; and a cut of 0.1 per cent on the three-year deal, which has a fee of £1,295.

Abbey's Head of Mortgages, Phil Cliff, commented: "Abbey is committed to offering a choice of mortgages so our customers can choose the most suitable deal for their needs. The new low fee options coming into the range on Monday suit people remortgaging. They will be great for people who have plenty of equity in their property and want a really competitive deal, whilst looking to keep remortgage costs to a minimum."

29 August 2008 © Moneyextra.com

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