Abbey mortgage rates cut

Date:Wednesday 14th January 2009
Author: Rachel Fletcher

Abbey mortgage rates have been reduced on various fixed and tracker products.

Rates on its mortgage products are being cut by up to 0.3 per cent.

On two-year, fixed-rate deals now begin at 3.99 per cent and are available for loans-to-value (LTVs) worth 60 to 75 per cent, with fees.

For a three-year, fixed-rate deal, a 60 per cent LTV is available at 4.39 per cent and a 75 per cent one at 4.69 per cent.

Both come with a £995 fee.

A five-year deal with a 4.99 per cent fixed rate is also on offer for a limited period and two-year tracker rates are being reduced.

In one example, a 60 per cent LTV tracker with a £1,995 fee has a rate of 3.69 per cent.

Earlier this month, Abbey said that all its variable rate mortgages would take the 0.5 per cent cut of the base rate from the beginning of February.

At the time it also said it was reviewing its standard variable rate.