Abbey launches a six-month fixed rate mortgage at 4.54 per cent on its Flexible Plus Mortgage.
It will be available from December 15 2004.
It has no extended tie-in if borrowers decide it’s no longer the right mortgage for them.
Key features include guaranteed tracker at the end of the fixed rate of 0.75 per cent above the Bank of England base rate, for the life of the loan. It is available at 90 per cent LTV with completion deadline of 31 May 2005. There are no early repayment charges.
Abbey director of mortgages Gary Hockey-Morley, Abbey’s says: “With continued uncertainty about base rate movement, this is an ideal mortgage with a great rate. It gives certainty of payments in the initial months and, later on, if borrowers find it’s no longer suitable, we’re giving them the flexibility of moving to an alternative.”