Abbey mortgage rate changes

An Abbey spokesperson said: "From today (Friday 26 September), Abbey is introducing new three and five-year fixed rate mortgages at 85 per cent LTV at 6.34 per cent with £995 fee. It is withdrawing its range of two-year deals at this LTV. This is in line with customer demand, which in recent months has shown a big swing towards medium term deals. Our research shows 21 per cent of people would opt for a three-year fix - higher than any other type of mortgage. By contrast, the number of people saying they would opt for a two-year fix is much lower at 8 per cent."