Abbey has just released a two-year tracker mortgage offering a rate of 4.38 per cent it will cost you £699 you can remortgage up to £500,000, this remortgage is available up to 90 per cent loan-to-value.
Barry Naisbitt, of Abbey, said: "There has been a marked change in financial markets in recent weeks which has meant that many lenders have increased their fixed rate mortgages. If people are planning to move house or buying for the first time, it may now be worth considering a tracker mortgage. The reason is that tracker rates are now lower than fixed rates in many cases. Even if the Bank of England increased Base Rate a couple of times in the next two years, a tracker is still likely to work out cheaper as previous interest rate movements have been just 0.25 per cent each time.
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Fixed rate remortgage
Abbey is offering reduced rates on their two year fixed rate mortgage allowing the public to remortgage.
Lal Tawney, Abbey's head of mortgage marketing, said: "For people that want to remortgage to Abbey, our two-year fixed rate has been slashed by 0.35 per cent to 4.74 per cent."
He added: "We have also taken this opportunity to trim some of our tracker rates, which were already some of the best rates in the market, to make them even more competitive."
A 0.1 per cent reduction will apply to a two-year tracker at 75 per cent loan-to-value and to five-year fixed rates.
Abbey is offering as part of this deal
- Free valuation
- Free legal fees
