For 7 days only – Abbey offer a 2 year fixed rate mortgage at 1.99%.

For a limited period, Abbey for Intermediaries are offering a new 2 year fixed rate mortgage at 1.99%.

The limited edition 2 year fix is available from 23 November for 60% loan to value, and comes with fees of £1,495. If you are interested in this low rate mortgage you are recommended NOT to delay. This is a limited product that will be available for a 7 day period only.

If you have a 40% deposit and want a sub 2% fix, you will need to get your mortgage application in before midnight on 29 November. After this time it will be removed from the Abbey mortgage range.

While adding this new 2 year fix to its range Abbey have withdrawn its previous 40% deposit deal which was available at 2.69%.

Its new sub 2% rate comes just a week after Tesco withdrew its 1.99% 2 year fix, stating high demand as the reason for its withdrawal.

In addition to a releasing a low rate 2 year fixed rate mortgage Abbey has also relaxed its interest only lending criteria.

Abbey tightened its criteria earlier in the year restricting interest only lending to a maximum 50% LTV. It has now announced this is changing and interest only deals will be available from 75% LTV.

However for interest only up to 75% LTV, the mortgage has to be part repayment and part interest only. The 50% maximum LTV remains in place for mortgages solely on an interest only basis.

For a cheap 2 year fixed rate mortgage you are advised to call Deal Direct.

As an independent 'whole of market' mortgage broker we will search all lenders offers market-wide to find the right mortgage for your needs.

Call an adviser today for a low rate quote.