Abbey: Fixed-rates lowered on high LTV

Date:Friday 4th December 2009
Author: Max Freedman

The rates paid by those with a high loan-to-value (LTV) mortgage with Abbey are to be reduced.

Mortgage holders with a fixed-rate product at a LTV of 80 per cent or above will see their rates fall by 0.2 per cent.

Tracker mortgages will also have a reduction, with a LTV mortgage of 85 per cent having 0.1 per cent cut from their rate.

The loans at these new rates are available through Alliance & Leicester as well as Abbey.

Nici Audhlam-Gardiner, director of mortgages at Abbey, said: "We have been cutting rates across our whole range over the past month and we are pleased to be able to cut rates now for those mortgages with a high loan-to-value and to help support the opening up of the housing market."

These latest cuts follow on from the reductions Abbeys made to its tracker rates last month, where the amount was reduced by 0.3 per cent on tracker products.