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Abbey makes fixed-rate reductions
9 December 2008 16:47
Abbey has announced that it will be cutting rates on several of its mortgage products on the back of the one per cent reduction in the base rate.
Fixed-rate deals will see cuts of up to 0.6 per cent, which includes an 85 per cent loan-to-value package, while the lender will also re-launch its two-year tracker mortgages with deductions of up to 0.9 per cent.
Director of Abbey Mortgage, Nici Audhlam-Gardiner, said that the lender had continued to offer particularly competitive products throughout the year.
He added that this was also the first time in four years that it had offered mortgage packages such as fixed-rate and tracker deals at rates below four per cent.
The new prices and products will be available to homeowners from tomorrow (December 10th).
Earlier this week, Nationwide announced that it would be waiving its 2.75 per cent tracker floor following the Bank of England's decision to cut the base rate.
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