Welcome to the new look Mortgage Introducer website and magazine, committed to bringing you the best educational, analytical and impartial coverage of your market
Robyn Hall
Just Retirement is going on the road over the next few months. This seminar is in Strathclyde.
Area Sales Manager - Financial Services - London
North London
Mortgage Consultant / Mortgage Adviser - Fulham
South London
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 cuts rates again
4 September, 2008
From tomorrow Abbey will be reducing its two, three and five year fixed rates by up to 0.30 per cent and fixed and variable 'large loan range' rates by up to 0.35 per cent.
Commenting on the reduction Phil Cliff of Abbey Mortgages, said: "We're determined to offer our customers the best deals and many of these rate reductions will make us a 'best buy'. We're looking very competitive across the range with two and three year fixes available from a market leading 5.74 per cent.
"These great rates may be part of the reason why fixed-rate mortgages are increasing in popularity with borrowers. Our research shows they are three times as likely to choose a three year fixed-rate deal compared with six months ago. Overall, approximately 52 per cent would now opt for a fixed rate product if they re-mortgaged tomorrow compared with 47 per cent last month and 35 per cent six months ago."
Among the rates changing are the following products from Abbey's core range:
-2 year fixed at 75 per cent LTV down by 0.20 per cent to 5.79 per cent
-3 year fixed at 75 per cent LTV down by 0.15 per cent to 5.79 per cent
-5 year fixed at 75 per cent LTV down by 0.30 per cent to 5.89 per cent
Abbey has also reduced the rates on the recently introduced large loan products, aimed at those customers wishing to borrow between £550,000 and £5 million.
-3 year fixed mortgage (60 per cent LTV) down by 0.35 per cent to 6.45 per cent
-3 year tracker mortgage (60 per cent LTV) down by 0.10 per cent to 6.24 per cent
Have Your Say