Change to Abbey mortgage lending announced.
Abbey mortgage for intermediaries is part of the Santander Group who took over the lender in 2004.
After the UK credit crunch Abbey was viewed by many as a safe placed for savings. Also at this time rather than pulling out of mortgage lending like so many others, Abbey mortgage lending grew which increased its market share.
Abbey has now introduced a minimum loan value for both 2 year fixed and tracker products. The remortgage products which are offered fee free are for 60 and 75% LTV and are offered for a minimum of £25,000.
The new remortgage rates for a 2 year fix are 4.24% offered fee free for 60% LTV and 4.14% also offered for 60% LTV fee free for Loyalty customers. For new deals for 75% LTV Abbey are offering a remortgage rate of 4.69% fee free and for loyalty customers for the same LTV, a fee free rate of 4.59% is offered.
Abbey's 2 year trackers have also been adjusted for remortgage for 60% LTV a rate of 3.49% above the BoE base rate is offered fee free and for 75% LTV a fee free rate of 3.79% above base is offered.
Abbey mortgage new build LTVs are also to be aligned with the lender's standard residential mortgage products and will now be offered at 85% for houses and 75% for flats.
For the most competitive mortgage deals on offer contact Deal Direct.
