Abbey launches reduced mortgage rates for exisiting customers

Abbey, part of Spanish banking group Santander, has announced that from today it will be offering lower rates on mortgages to existing customers, when compared with its main range. Existing Abbey and Alliance & Leicester current account customers who have held their account for more than six months will be entitled to benefit from new deals available in branch or on the telephone for a limited period only.

The range, which includes fee-free trackers and fixed-rate deals and an offset mortgage, offers both remortgage and purchase products with some added benefits such as a free survey, help with legal fees and a free valuation.

Nici Audhlam-Gardiner, Director of Mortgages at Abbey said:

“This is great news for our existing current account customers, whether they’re looking to remortgage or purchase a new home, they can now take advantage of more affordable offers. We’ve already seen a lot of interests for these deals – around 25 per cent of our sales in the branches are to existing current account customers who are taking advantage of these great offers.”

We also have some excellent offers on our current accounts at the moment. You can earn 6 per cent in-credit interest on the Preferred In-Credit Rate account, half price on the cost of our Reward account for three months including worldwide family travel cover, free breakdown and 6 per cent in credit interest or 0 per cent on Advanced Overdrafts for 12 months.”

The lower rates are available through both Abbey and Alliance & Leicester branches and on the telephone are as follows:

Fixed:

* 3.89%, 2-year fix , 75% loan to value (LTV) for purchase and remortgage
* 4.99%, 4-year fix, 75% LTV for purchase and remortgage
* 5.99%, 3-year fix , 90% LTV for purchase only

Trackers:

* 2.99%, 3-year, 75% LTV for purchase and remortgage

Offset:

* 3.25%, 75% LTV for purchase and remortgage and a £995 fee

Mortgage hunters should be aware, however, that it always pays to shop around to make sure you’re getting the best deal. If you would like to speak to a broker who can help you choose a mortgage to suit your needs, visit http://www.totallymoney.com/mortgages.