Abbey relaunches first-time buyer range

Abbey is relaunching its range of mortgages for first-time buyers on August 30 with a host of new products and reduced rates on some existing products.

In its 90% LTV range, Abbey is offering a two-year tracker at 5.14% with no booking fee, a five-year tracker at 5.19% with no booking fee, a five-year tracker at 5.09% with a 499 fee and a five-year fixed rate of 5.59% with a 499 fee.

Its 95% LTV range features a three-year stepped tracker at 3.99%, 4.89% and 5.79% with a 499 fee, and a five-year 5% cashback tracker at 6.29% with no booking fee.

In its 97% LTV range it has a two-year tracker at 4.99% with a 499 fee, a two-year tracker at 5.24% with a 499 fee, a three-year tracker at 5.43% with no booking fee, a five-year fixed at 5.79% with a 499 fee, and five-year fixed at 5.89% with 499 fee and a five-year fixed at 5.99% with no booking fee.

Free valuation fees and 250 cashback upon completion are available on all mortgages apart from the two-year fixed rate at 4.99% and the five-year fixed rate at 5.79%.

Jeff Scott, head of mortgages at Abbey, says: “First-time buyers have a tough time and things aren’t getting any easier for them.

At Abbey, we understand that each first-time buyer is different, in terms of their budget, what type of rate they want and what emphasis they place on up-front fees versus monthly costs.

This is why we have launched a wide range of options including mortgages with no fees or cashback upon completion. Prospective homeowners with limited deposits can also benefit from our 97% LTV range.”