Abbey launches new flexible deal

Abbey has announced the launch of a new long-term flexible deal which will be available from today (Wednesday, October 31st).

The so-called ‘Fix and Flex’ mortgage allows customers to choose whether they prefer a fixed period of six or 12 months.

They can then revert to a competitive variable rate for the remainder of the mortgage term.

Abbey has highlighted one of the benefits of the Fix and Flex as the product being offset against savings which can mean a mortgage is paid off quicker and no income tax will be paid on them.

Nici Audhlam-Gardiner, Abbey’s head of mortgages, commented: "The current climate is an uncertain one and we know that uncertainty drives demand for fixed rate products, at least in the short term.

"However many people also want flexibility - to overpay, underpay, take payment holidays, and most importantly, offset their savings - and that is why we have launched this product," he concluded.