Abbey mortgage rates cut

Date:Friday 31st October 2008

Abbey mortgage rates have been cut by as much as 0.35 per cent on fixed-rate deals.

Various fixed-rate mortgages from the lender for two, three and five-year deals have now been reduced.

The new offers include two and three-year 60 per cent loan-to-value (LTV) options which have been cut by 0.25 per cent.

Both are now 5.49 per cent and have a fee of £499.

Fixed-rate mortgages for five years at 75 per cent LTV have been cut by 0.25 per cent, now starting from 5.54 per cent with a £995 fee.

The biggest percentage cut is on two-year, fixed-rate deals at 75 per cent LTV, which have been reduced by 0.35 per cent.

Now they begin at 5.54 per cent and have a £995 fee.

Meanwhile, mortgage brokers Countrywide Mortgage Services have announced two new three-year tracker mortage deals, reports.

Available for new and remortgaging customers, the products are available through Caversham estate agent Carsons for a limited amount of time.

Russell Mitten, managing director of Carsons, said the mortgage products are designed to help homeowners in the current economic climate.