Abbey Cuts Fixed Rates
July 11th, 2008 by 
Guy
Abbey has cut its mortgage interest rates on its two and three-year fixed rate mortgages by up to 0.15%.
This is the second set of rate cuts to be made by the mortgage lender in the last 10 days.A two-year fixed rate mortgage from Abbey now starts from 6.34% with a £999 fee and a three-year fixed rate mortgage at 75% LTV from 6.29%.
The lender is also adding a new three-year fixed rate deal at 70% LTV to its product range.
This deal has a competitive rate of 5.99% with a £1,695 fee and is available for loans of up to £250,000 .
Abbey claims the product is a market-leader, even when considering the fee-adjusted rate.
Phil Cliff, director of mortgages at Abbey, says: “Abbey is committed to offering competitive deals and our strength in the mortgage market allows us to do this.
“These rate reductions are the second set that Abbey has made in just 10 days. What’s more, we’ve added another market-leading deal to the range. This three-year fix has a rate of just 5.99% and even when the slightly higher fee is accounted for, it is still the best in market.”
Posted in Mortgage news | 