House price search
Enter your postcode here to find out how much your property is worth, based on Land Registry data.
RSS Feed
Daily news archive
Abbey slashes five-year fixes
11 February, 2008
Abbey has cut rates on its five-year fixed rate deals by up to 0.46 per cent following the Bank of England's interest rate decision on Thursday.
Fixed rate deals now start at 5.93 per cent, with free valuations and legals and a £499 fee for those with loans of up to a maximum of 90 per cent.
Offering further support to this rate decrease is the lender's research which highlighted that almost as many people plumping for a fixed rate would opt for a five-year product as would a two-year one.
Borrowers can also access the products at an LTV of 95 per cent for a slightly higher rate of 6.54 per cent and a £599 fee.
Nici Audhlam-Gardiner, head of mortgages at Abbey, comments: “We’re finding more people are turning to longer-term products these days – one, because of the certainty they offer and two, because the deals are so well priced."