New Abbey mortgages on offer for FTBs

Date:Thursday 2nd April 2009
Author: Susanna Kavka

Abbey has announced it is to launch new mortgage offers for consumers seeking to purchase a home.

From tomorrow (April 3rd), the lender will offer a four-year fixed-rate deal at 5.84 per cent exclusively for first-time buyers (FTBs).

The product is available up to 85 per cent loan-to-value (LTV) with a fee of £495.

In addition, the firm is to roll out two-year tracker mortgages at 4.14 per cent available up to 75 per cent LTV.

Mortgage director at Abbey Nici Audhlam-Gardiner said: "We are committed to meeting the needs of FTBs in today's difficult market conditions, which is why our new FTB mortgage has been designed to offer the security of a competitive longer-term fix alongside a low fee."

Recently, Clydesdale Bank announced that it was cutting the rate it charges on two-year fixed-rate products for customers seeking up to a 60 per cent LTV by 0.2 per cent to 3.79 per cent.