Abbey 'takes financial strain' out of moving home

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Abbey 'takes financial strain' out of moving home

Abbey estimates that the average homeowner looking to invest in new bricks and mortar could save up to £2,000 in fees and charges by taking out one of its no up-front costs mortgage packages.

Research carried out by the group indicates that Britons spent a collective £28 billion on moving home in 2006, with an average of £16,000 being spent on a move.

The group believes that with the average British homeowner expected to move three or four times during their lifetime, "homeowners need all the help they can get".

Customers who take on the new Abbey mortgages will benefit from the removal of all upfront costs associated with the sale and purchase of a property, including legal fees.

Mortgage valuation and booking fees are also included as standard in the Abbey mortgage packages.

The Abbey mortgage packages also provide cashback on contents insurance after the first year of the term.

Nici Audhlam-Gardiner, head of mortgages at Abbey, said: "By removing upfront costs including legal fees, Abbey's new mortgage is especially designed to help movers start life with more cash in their pockets."

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