Abbey step up to fill the gap left by Tesco's 1.99% mortgage withdrawal.
Tesco launched into the mortgage market back in August. When it finally announced its mortgage rates, critics were less than impressed. The rates were not considered the most competitive or market leading.
The fact Tesco was also not offering any mortgage products at loan to value levels above 80% was also questioned. It was felt that many would-be buyers could be penalised by the decision, however Tesco said it saw no demand for high loan to value products amongst its target audience.
While the new lender still does not offer mortgages above 80% loan to value, it has cut its rates.
Initially its rates were not highly competitive and a month after launch Tesco saw the need to change this situation.
Included in its new range was a 2 year fixed rate at 1.99% for 60% loan to value. It hit the top of the best buy mortgage tables and proved highly popular, so much so its fixed tranche of funding was quickly exhausted and it was with drawn from the range.
With Tesco having withdrawn its 2 year fix, those with a 40% deposit are looking around for an alternative. One mortgage well worth considering is the 2 year fix from Abbey at 1.99%.
Abbey's new mortgage which replaces Tesco's sub 2% mortgage offer, is a limited edition, limited availability product.
It is only available through the broker channel. If you are interested in this offer you are advised to ACT NOW and call DEAL DIRECT.
Deal Direct will find you a low rate alternative to Tesco's 1.99% fix.
Don't delay, call an adviser today for an ultra low rate mortgage offer.
</p
