Abbey fixed rate mortgages cut

Date:Thursday 18th December 2008
Author: Rachel Fletcher

Abbey fixed-rate mortgages have been reduced, the lender has announced.

Mortgages for two, three and five-year deals with fixed rates have been cut by as much as 0.6 per cent while a new product for an 85 per cent mortgage is also available.

The latter product is for movers and those buying their first property.

For the two-year mortgage, there is a rate of 4.64 per cent, a fee of £549 and the loan-to-value (LTV) is 75 per cent, while the deal is capped at £150,000.

The three-year deals each have a £995 fee, with LTVs of 60 and 75 per cent, at respective rates of 4.64 per cent and 4.89 per cent.

On the five-year mortgage products, the fees range from 4.94 per cent to 5.84 per cent, each with a £995 fee.

Abbey also cut its fixed rates earlier this month, bringing them below four per cent for the first time since 2004.