Abbey introduces remortgaging incentives

Abbey has launched two new products with competitive rates at 60% LTV for the thousands of borrowers currently coming off two-year fixes.

The company says these are its lowest two-year deals this year – a fixed rate at 4.39% with a 399 fee and a tracker rate at 4.24% with a 699 fee. Both these fees can be added to the loan.

Booking fees for people taking Abbeys remortgage benefit package are reduced by up to 200 for all fixed and tracker mortgages.

Most fixed rates are reduced by 0.05%. Stepped fixed rates are reduced by 0.05%.

Also still available are Abbeys competitive flexible, cashback and capped rate mortgages. Both the capped and discount mortgages will still be best buy deals.

Lal Tawney, head of mortgage marketing at Abbey, says: “Anyone who is coming to the end of a cheap fixed rate mortgage this September will find some excellent new deals on offer from Abbey.

“We have cut rates, reduced fees and introduced two attractive new lower LTV products, ideal for people in the remortgage market. Remortgaging is easy to do and could result in a significant monthly saving.

Abbeys remortgage benefit package offers the choice of a free valuation on property values up to 2.5m and free standard legal work. Alternatively customers can receive 250 towards legal fees if they prefer to choose their own solicitor.