Abbey: Low mortgage rate rewards for loyal customers

Date:Tuesday 10th November 2009
Author: Susanna Kavka

Abbey has introduced new low mortgages rate for customers of more than six months.

For a limited period Abbey and Alliance & Leicester current account holders can apply for the reduced rates in the branch or over the telephone.

Three fixed-rate loans have been launched: a 3.89 per cent two-year mortgage with 75 per cent loan-to-value (LTV), a four-year product with a 4.99 per cent rate and 75 per cent LTV, and a three-year 5.99 per cent mortgage with 90 per cent LTV for purchases only.

In addition, a new tracker product and an offset mortgage have also been made available.

The release of these mortgages follows on from reductions in mortgage rates at the company last month, when fixed rates were reduced by up to 0.11 per cent and new tracker mortgages at 2.94 per cent were launched.

Nici Audhlam-Gardiner, director of mortgages at the bank, said the latest mortgage offers come in addition to other deals available through the bank, such as zero per cent interest on advanced overdrafts for a year.