On August 1st, Abbey will launch an impressive two-year fixed rate mortgage.
The product's rate is 4.49 per cent, a significant cut from the previous rate of 4.64 per cent. In addition there is no early repayment charge, making Abbey's offer one of the most competitive on the market.
Abbey's other mortgages will remain at the same rate.
The deal's loan to value (LTV) maximum is 75 per cent, with a fee of £599 that can be added to the loan if desired.
Abbey's head of mortgage marketing Lal Tawney said the deal offered customers "the ultimate in flexibility".
She said: "This mortgage offers a low repayment rate and the freedom to remortgage at any time with no penalty should they see a better deal."
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