The product is fixed until July 2 2011 and has a maximum LTV of 75% and early redemption charges of 3% until July 2 2011.
Neil Hoare, sales and marketing director at Pink, says: “This is a fantastic deal from Abbey and in the current market is an attractive proposition for first time buyers looking to get a competitive rate with minimal fees. I’m sure this product will be welcomed by our intermediary customers.”
Adrian Whittaker, key accounts director at Abbey for Intermediaries says: “Increasingly borrowers are turning to fixed rates for peace of mind during these exceptional market conditions. We are committed to providing intermediaries with the tools they need to weather the market and as such launched this product to help intermediaries tap into this demand for fixed rate products.”