Abbey launches its lowest mortgage rate

On Friday 6 March, Abbey is launching its lowest mortgage rate for new customers. The limited offer 2.99 per cent 2-year fix at 60 per cent loan-to-value (LTV) is available to Abbey banking customers and has a £599 fee and maximum loan size of £200,000. Abbey is also introducing a best buy 5-year fixed rate mortgage at 3.95 per cent with a 60 per cent LTV and £995 fee and maximum loan size of £250,000.

Nici Audhlam-Gardiner, Abbey Mortgage Director, commented: "This is the lowest mortgage rate we have offered. We want to continue to offer our customers the lowest rates and the best deals we can. We wrote nearly one in three mortgages in 2008 and continue to offer our customers value for money. That's why we're giving new borrowers a choice of these two competitive deals allowing them to guarantee security of their monthly payments. To avoid disappointment, customers should visit their nearest branch or call 0800 389 9890 to take advantage of this limited offer."

The latest range of Abbey mortgages includes products at 60, 75 and 85 per cent loan to value including those specifically looking to move home or remortgage.

Abbey is passing the full 0.5 per cent on to existing variable rate mortgage customers and is reducing its SVR by 0.45 per cent from the beginning of April.

Reza Attar-Zadeh, Abbey Savings Director, added: "As well as the great new mortgage deals, we continue to offer best buy savings deals such as the 4.01 per cent 2 year fixed rate bond and 4.0 per cent fixed rate monthly saver and we are committed to holding the rate on our 3.5 per cent (AER) variable rate Reward ISA, despite today's base rate fall."

All other savings rates remain under review.

For more information on Abbey's mortgage or savings products, visit abbey.com