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    Abbey helps struggling homeowners with mortgage deals

    01/06/2009


    The biggest mortgage lender Abbey has made rearrangements to their lending criteria for people with smaller deposits.

    The new mortgage deal is aimed at those who are looking to borrow 70 per cent of their property value.

    Abbey is offering a five-year fixed-rate deal of 4.69 per cent, with a two-year fixed-rate loan at 3.65 per cent.

    Abbey mortgage director, Nici Audhlam-Gardiner commented: “Increasing the LTVs (loan-to-value ratio) on all our fixed-rate mortgages that were previously available at 60% LTV to 70% LTV will help those looking to purchase a property, move home or remortgage. Our approach to mortgage lending remains prudent but this is a sensible move given some of the early signs of confidence returning to the housing market.”

    New data by Moneyfacts.co.uk proved there had been a slight increase in the number of mortgages available to homeowners who were looking to borrow more than 60 per cent of their property’s value.

     

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