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Abbey revamps loan range

Abbey National has unveiled a new range of fixed-rate, discounted and cashback mortgages.

The fixed-rate range includes a two-year loan fixed at 5.49 per cent for up to 75 per loan to valuation. The discounted range features a two-year discount of 2.25 per cent off the standard variable rate, giving a rate of 5.49 per cent, for up to 75 per cent LTV.

Abbey National is also continuing its offer of free legal and valuation fees for borr-owers wanting to remortgage.

It says the new range is in response to an increase in demand for fixed-rate mortgages. There are no redemption penalties on any of the loans. An introducer fee is available of 0.25 per cent of the advance subject to a minimum of £100.

Head of mortgage marketing Miles Bingham says: “Whether you want the peace of mind of a fixed rate or the benefit of a discounted deal, our new range offers real solutions.”

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