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Abbey promises no fees for homemovers

Abbey has launched a raft of new products that remove all of the upfront costs for homemovers.

The move could see homemovers save some £2,000 pounds as the group will cover typical legal fees associated with the sale and purchase of a new property including land registry on homes up to £500,000. The group will also cover mortgage valuation and booking fees.

Customers who opt for one of the no upfront cost mortgages can also benefit from significant discounts on removal costs and payment care, plus a 50 per cent cashback on contents insurance after a year at their new home.

The no upfront mortgage range includes a two and five year fixed rates and a two-year tracker mortgage. Borrowers can choose from products with or without extended tie-ins and all are available at 90 per cent loan to value.

Customers can elect to take an extended tie-in product, or pay a little more on the rate and not be tied-in. For customers choosing to take an extended tie-in product, this is for a further 18 months. Early redemption charges will apply.

Abbey head of mortgages Nici Audhlam-Gardiner says: “Our customers tell us that moving home is among the most stressful and expensive things you can do in life. Our market leading range of ‘no upfront costs’ mortgages – which unlike other banks’ no fee’s deals, cover legal fees as well – will benefit movers who want to minimise the costs associated with moving home, while still enjoying great rates on their mortgage.

“Abbey’s new deals enable movers to minimise their upfront costs and avoid the added worry of sourcing valuation and conveyancing services. We are able to be first to market with this offer through an exclusive agreement for the period of this campaign with Legal Marketing Services (LMS) who will be providing the legal services package to our customers.”


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