Mortgage deal offered by Abbey

A new best-buy mortgage deal has been launched by Abbey at 3.69 per cent, suggesting that debtors may benefit from these lower rates.

The two-year fixed tariff is available with a £799 fee for purchase, while remortgaging can be agreed upon for a maximum loan-to-value of 70 per cent. These can be discussed both in-store at Abbey and Alliance & Leicester branches, as well as over the telephone.

The bank recently brought out a range of deals for existing current account holders with no booking fees, leading to savings of up to £995.

Director of mortgages at Abbey Nici Audhlam-Gardiner observed that the building society continues to provide clients with “compelling” deals, adding that throughout the year the firm has “remained strong in the mortgage market”.

This comes after statistics from the British Bankers’ Association revealed that increased mortgage lending is now being seen among the main high street banks, with the number of approved loans for homeowner purchases rising to levels recorded at the end of 2007.

By Sarah Adie