Special Summer offers have been announced by the Co-op, better known in financial circles as CIS. Their key offer is on a three year tracker mortgage that is only available to CIS current account holders.
The first thing to notice is the sub 6 percent interest rate – 5.99 percent when customers can provide a 25 percent deposit. There is also no fee on this particular mortgage, something that is refreshing in the mortgage market of today. Customers will also be pleased to see that there are no legal fees and remortgage customers can also receive a free property valuation.
There is great flexibility in this CIS mortgage too, with the option to overpay and thus reduce the total repayment term and interest. Payment holidays are also available to help customers manage their expenditure from time to time.
A number of Abbey National mortgages have had their rates of interest reduced it was announced today, though the reductions are very modest.
All Abbey National tracker and flexible rate mortgages are seeing an interest rate cut of 0.05 percent, whilst some of the fixed rate mortgages are coming down by 0.17 percent. The ones seeing these bigger reductions are the safer options for the lender, namely seventy-five percent loan to value mortgages. This means the borrower had to put down a deposit of twenty-five percent. The five year fixed rate for this sort of Abbey National mortgage is therefore down from 5.92 percent to 5.75 percent.
An Abbey National mortgages spokesperson explained that the focus of the lender was to offer choice and value. To this end they have reduced rates on a variety of mortgages as the opportunity has arisen in order to deliver competitive products to their customers.
Find the best rate on an Abbey National mortgage at Moneygossip.co.uk
The Abbey National has today announced mortgage rate cuts on several of its home loan products, specifically the fixed rate and flexible mortgages.
All of the Abbey National flexible offset mortgages have had a rate cut of 0.2 percent, as have the five year fixed rate offers, while three year tracker mortgages have received a reduction of 0.1 percent. They have also stated that more reductions will follow, these being on the two year and three year fixed rate mortgages, where rates could come down by a quarter of 1 percent.
A spokesman for the Abbey National stated that they wanted to do the best they could for the customer, delivering the best possible deal whenever possible. It is also hoped that the cutting of rates across the market will stimulate activity in the housing market.
