Abbey 2.99 fixed rate

tintoys

I have just seen this on a notice in the Abbey, Does anyone have any details on it?

Also can anyone tell me what the payments per month are on 100k at 2.99%, I'd be very interested to know, I appreciate it all depends on what the set up fees are on this oofer

Forever_Red

The repayments depend on whether you want an interest only or repayment mortgage, also over what term?. Try this calculator

http://www.moneymadeclear.fsa.gov.uk/tools.aspx?Tool=mortgage_calculator

Alan

daveyjp

"I have just seen this on a notice in the Abbey, Does anyone have any details on it?"

The Abbey website may be a good place to start.

https://www.abbey.com

gemmalouanna

http://www.abbey.com/csgs/Satellite?appID=abbey.internet.Abbeycom&c=Page&canal=CABBEYCOM&cid=1210610682091&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FPage%2FWC_ACOM_TemplateG

Top one in their table?

2 yr fixed, need Abbey account, min 40% deposit, max loan amount 200k, £599 booking fee (cannot be added to loan)

Tiddler_2

And don't forget the only available to existing current account holders - who have held their account for at least 12 months

tintoys

That's me out then, I've only got a savings account with them

Thanks for info

HappyMJ

I really do wish people luck on these mortgages 2.99% is good that's only £2,990 per year on a £100k loan but what happens after the 2 years it goes to a variable rate which could be anything. Could you afford it if it were back to last years rates at 7% per year £7,000???

The 10 year rate although more expensive at 5.39% looks a much better hedge against rates rising. And comparing like for like the 2 year fix 25% deposit is 4.09%.

b0rker

HappyMJ wrote: »

Could you afford it if it were back to last years rates at 7% per year £7,000???

Yes. Very easily...

wackojackouk

I heard Abbey are going to drop their SVR to 4.29% on 1st April (on MSE somewhere)

If true does anyone think they will reduce their fixed rate one's inline?

space_rider

HappyMJ wrote: »

I really do wish people luck on these mortgages 2.99% is good that's only £2,990 per year on a £100k loan but what happens after the 2 years it goes to a variable rate which could be anything. Could you afford it if it were back to last years rates at 7% per year £7,000???

The 10 year rate although more expensive at 5.39% looks a much better hedge against rates rising. And comparing like for like the 2 year fix 25% deposit is 4.09%.

Good point. I had a 2 year rate with Abbey that was a tracker which was - the boe base rate. My payments would have gone up by £140 had the rates not gone the way they did. I now have a 5 year tracker at 1.04 over the boe base rate but I am saving the difference between what the rate is now and 7%. I daren`t get too comfortable at paying 2.04%

mby70

wackojackouk wrote: »

I heard Abbey are going to drop their SVR to 4.29% on 1st April (on MSE somewhere)

If true does anyone think they will reduce their fixed rate one's inline?

I'd be amazed if they offer any fixeds lower than the current 3.99 on that is on offer.