Abbey reduces rates on fixed rate deals

Abbey Mortgages is cutting interest rates by up to 0.1% on a number of its most popular fixed rate deals.

The new rates available are:

2 and 3 year fixed rate mortgage with homebuyer solution – rate cut to 5.89%

5 year fixed rate deals with remortgage solution – rate cut to 5.79%

10 year fixed rate mortgages – core product, homebuyer and remortgage solution – rates cut to 5.64%, 5.94% and 5.74% respectively

15 year fixed rate deal – core product – rates cut to 5.64%

Abbey is also increasing rates on its tracker products by 0.1% to reflect market movements and to maintain its competitive position.

Nici Audhlam Gardiner, Abbey Head of Mortgages, said: "Customers looking to fix during this uncertain period will benefit from a 0.1% cut in rates on a number of our most popular fixed rate products. Our long term fixes are looking extremely competitive with 10 or 15 year deals starting from as little as 5.64%.

“Our range also has a number of other attractive products, including our recently launched Fix and Flex product which allows people to fix for the first 6 or 12 months then revert to a flexible mortgage at just 0.49% above base for the life of the deal.”