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Abbey unveils 'no-fee' home mover mortgage

18 April 2007
Home movers could save themselves £2,000 off the cost of buying their second or subsequent home by opting for a new fees-free mortgage from Abbey, the mortgage lender claims.

Booking or application fees are ruled out, while fees on valuation of your home will be excluded altogether for any home valued under £2.5 million.

The most unusual feature of the Abbey offer is the fact that legal fees, including solicitors' fees and land registry fees on up to £500,000 of the price of the total property, will also be waived, saving customers up to £1,400, according to the lender.

"Unlike other banks' no fees deals" this offer covers legal fees as well, explained Abbey's head of mortgages, Nici Audhlam-Gardiner.

In what it claims is an unprecedented move in the mortgage market, Abbey is getting rid of all upfront costs and hoping to attract home movers to its suite of loans.

The offer will be valid for popular existing mortgage packages including the two-year and five-year fixed rates and the two-year tracker mortgage.

Find out more about an Abbey National mortgage

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