Abbey's first ever lifetime tracker mortgage comes with a low rate AND low deposit.
Abbey for Intermediaries has just released its first lifetime tracker mortgage, and the great news is both the rate offered and the fee charged are set low.
At a time when we are hearing fixed mortgage rates could start to increase, it is good to see lenders are offering product alternatives to keep mortgages affordable.
With just 25% as a deposit, a rate of 2.19% plus base is offered for up to 75% loan to value.
With the base rate expected to remain at 0.5% up to 2016 this represents a good deal. However when the base rate does rise your mortgage repayments will too, but as the first base rate increase is only expected to be 0.25% the mortgage still remains competitive.
The fee charged is £495 and this new lifetime tracker mortgage is available for both new purchase and remortgage.
A spokesperson for the lender commented advising that its new lifetime tracker has been created for home-owners wanting the flexibility of a tracker mortgage deal, while having the security and peace of mind that comes with a lifetime tracker rate.
If you would like to review this mortgage in more detail contact Deal Direct on 0800 048 8828.
As an independent 'whole of market' broker we can review all lenders tracker mortgages market-wide to come up with the most affordable product over all.
Whatever type of mortgage you are looking for call an adviser today for advice and a quote.
Contact Deal Direct on 0800 048 8828.
