Abbey's best mortgage deals are now even better.
Abbey's best mortgage deals are becoming even more competitive as the lender has announced various cuts across its range. In addition to cutting rates Abbey also plans to double its lending for home loans next year.
New rates for its best mortgage deals include various new offers at 70% LTV. A 2 year fixed rate is now on offer at 2.89%, and is available to new customers who are either purchasing a new property, or remortgaging from an existing deal. With this new offer a fee of around £1000 is charged.
In addition to cutting rates Abbey is also offering various incentives such as cashback of up to £250 and a free valuation.
To achieve its increased mortgage lending target Abbey may have to relax its currently strict lending criteria, without this doubling lending during 2013 might be difficult.
It has been speculated that rules around adverse credit history would need to be relaxed. Without a relaxation of this rule anyone with a less than perfect credit record could find it difficult to secure a mortgage. Abbey also has strict criteria governing unsecured debt and its treatment in affordability calculations.
Abbey advises that it has no present plans to alter current mortgage lending criteria. Without changes it is unknown if lending can doubled.
For the best mortgage deals available contact 'whole of market' mortgage broker Deal Direct. We have access to some of the cheapest rates on offer.
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