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Product update

Abbey unsure of SVR but cuts trackers from January

4 December, 2008

Abbey has released details of its mortgage rates following the 1% cut in the base rate earlier today.

Existing mortgage holders

Trackers: All of Abbey's variable rate mortgages that track base rate will fall by the full 1 per cent, including all flexible deals. The rate change will take effect from the start of January.

The SVR is under review and we will be making an announcement in due course. Abbey's current SVR is 5.44 per cent.

New mortgage customers

In line with other lenders who have already withdrawn their variable rate mortgage deals, we will also be temporarily removing our trackers from close of business this evening. This is to prevent excessive in-flows and the impact on service levels this would have. We expect to re-launch a new range of mortgages next week.


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