From today the new range of 75% LTVs for remortgagers will be available through the branch or over the telephone for a limited time only.
The rates include a three-year fix at 4.09%t, a seven-year fix at 4.99% and a 15-year fix at 5.38% all with a £995 fee and a maximum loan size of £250,000.
Nici Audhlam-Gardiner, director of mortgages at Abbey, says: “In our new range, we are offering borrowers looking to remortgage an incredible deal with the lowest fixed rates in 10 years.
“We continue to offer borrowers market-leading rates across our extensive range. For those looking to remortgage, it’s not just the rate that’s good but the choice of terms means there’s something for everyone. These mortgages are only available until the 14 June, so borrowers need to move quickly to avoid disappointment.”
Abbey is also launching two other fixed rate mortgages, an 85% LTV with a five-year fixed rate at 5.74% with a £995 fee and a maximum loan size of £550,000.
In addition this has the Homebuyer solution, which includes free valuation and £250 cashback on completion of the mortgage. The other is a 10-year fix at 4.99% with a 75 per cent LTV and a £995 fee.
Abbey is also reducing the rate on its two-year fix at 60% LTV for existing current account customers to 2.95% with a £599 fee.
Audhlam-Gardiner adds: “In the last few weeks we have extended our range so there is something to suit every borrower whether they are remortgaging, moving house or making their first step onto the ladder. We also added some fee-free mortgages too. These latest competitive additions complement the range and are a further sign of our commitment to offer good value for our customers.”
New research from Abbey Mortgages shows that the number of homeowners who believe that the base rate has fallen as low as it will go has more than doubled over the past two months showing now is definitely the time for borrowers to fix in and guarantee certainty of their monthly payment, especially if they are looking for a longer term fix.
Abbey’s Remortgage Index which asks homeowners with a mortgage what type of mortgage they would opt for and the reason for their choice discovered that the number of people holding out for a lower base rate has fallen from 3.1 million, 17% to 1.3 million, 7% in just two months.