Abbey announces exclusive two year tracker mortgage

The Abbey have recently announced another sub 6% mortgage deal which will be available through a selected number of mortgage brokers. The rate which is set at the Bank of England base rate plus 0.79% for the first two years, is available for loans of up to 60% of the property value and is available for both new purchases and those looking to remortgage away from their current lender.

A key advantage of the loan is that it has no completion deadline, and is therefore ideal for those who are currently tied into a rate, but will need to remortgage towards the end of the year and are worried that the number of available mortgages will decline further.

The scheme has an arrangement fee of £1,499 of which £150 has to be paid at the time of application, with the remainder either being added to the mortgage or being paid on completion. Early Repayment Penalties are payable during the initial two years.

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