Abbey reduce mortgage rates

Abbey have today announced the launch of two new tracker rates, available exclusively through mortgage brokers. The new rates will be available from tomorrow July 23rd and will both track the Bank of England base rate for a period of two years. The new deals consist of a 5.59% rate for those wishing to borrow up to 60% of the value of their property and a 5.74% rate for those wishing to borrow up to 75% of the value of their property. Both schemes have an arrangement fee of £1,999 of which all except £150 can be added to the loan.

At the same time, Abbey have taken the opportunity to launch two new remortgage deals for those who do not wish to pay high arrangement fees. The schemes both have an arrangement fee of £499 and consist of a three year tracker at 6.28%, and a three year fixed rate at 6.50%. Both new deals are available up to 75% of the property value, and as with all Abbey mortgages, £150 of the arrangement fee has to be paid on application.

To complete the new suite of mortgage products, Abbey have announced a three year tracker at 7.04% for those wishing to borrow up to 80% of the property value. The scheme has a £999 fee of which £849 can be added to the mortgage if required.

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