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Abbey slashes fixed-rate products
20 November 2008 16:48
The high street lender Abbey has announced that it will be cutting rates on several of its fixed-rate packages.
From tomorrow (November 21st), all of the bank's three-year home purchase finance deals from 60 to 75 per cent loan-to-value (LTV) will receive cuts of 0.5 per cent.
Products such as Abbey's 75 per cent will now attract an interest rate of 5.24 per cent with a fee of £995.
Nici Audhlam-Gardiner, Abbey mortgage director, said that the lender now offered a variety of competitive fixed-rate mortgages, which allowed customers to enter into market-leading rates for two or three years.
He added consumer feedback had indicated that competitive rates and long-term security were the most important factors when considering a mortgage.
Earlier in the month, Abbey cut interest payments on its two-year fixed-rate mortgages to 4.49 per cent with a £995 fee for 60 per cent LTV.
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