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Mortgages -
New remortgaging tool launched - 21/12/2007
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A new remortgaging product has been launched by Pink Home Loans and Abbey.
The new offer is on a rate of 5.72 per cent until 2010 - and is aimed at customers coming off their temporary fixed rate mortgages onto a variable rate.
Such customers are set to feel the financial squeeze - as interest rates have been raised by a full percentage point over the past year and a half.
Managing director of Pink Home Loans David Copland, commenting on the launch, said: "We are thrilled to have launched this fantastic fees assisted product with the Abbey, which is priced competitively, particularly for those existing mortgage clients coming to the end of a promotional period, whether fixed or discounted, who wish to remortgage for stability, are looking to consolidate their debts, or wish to raise some extra cash in the New Year."
The new product offers a maximum 90 per cent loan-to-value to customers, who can apply by direct submission only.
According to an Abbey estimate, around 1.4 million homeowners on temporary fixed rates will see the period come to an end in 2008.
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