Abbey cuts two, three and five year fixed rate mortgages

From Friday 19 December, Abbey is cutting rates by up to 0.6 per cent on its fixed rate mortgages. This follows cuts Abbey already made last week of up to 0.6 per cent on its fixed rates. The rates are reducing on the 2, 3 and 5-year fixed rates mortgages. Abbey is also cutting rates significantly to offer another competitive 85 per cent mortgage for first time buyers and home movers.

The new rates are as follows:

2-year fix

4.64 per cent with a £549 fee for 75 per cent Loan to Value (LTV), up to £150,000

3-year fix

4.64 per cent with a £995 fee for 60 per cent LTV
4.89 per cent with a £995 fee for 75 per cent LTV

5-year fix

4.94 per cent with a £995 fee for 60 per cent LTV
5.09 per cent with a £995 fee for 75 per cent LTV
5.84 per cent with a £995 fee for 85 per cent for home movers and first time buyers

Abbey also has a market-leading 2-year tracker at 3.99 per cent for 60 per cent LTV.

Nici Audhlam-Gardiner, Abbey Mortgage Director, commented: "Abbey continues to offer very competitive deals, demonstrating that we have, and continue to be, open for business. We now offer market leading fixed rates at 2, 3 and 5 years including some very competitive rates for lower deposit customers, allowing them to lock into the certainty of a fixed rate deal."