Abbey cuts existing fixed rates and adds new mortgage deals

On Monday 2 February, Abbey is to cut rates by up to 0.20 per cent on all existing 2 and 3-year fixed rate mortgages that are available up to 75 per cent loan to value (LTV). The new rates are as follows:

2-year fixed rates:
4.19 per cent with a £995 fee up to 75 per cent LTV
4.24 per cent with a £995 fee up to 75 per cent LTV
4.29 per cent with a £549 fee up to 75 per cent LTV

3-year fixed rates:
4.49 per cent with a £995 fee up to 75 per cent LTV
4.54 per cent with a £995 fee up to 75 per cent LTV
4.59 per cent with a £549 fee up to 75 per cent LTV

Abbey will also be launching a market-leading fee-free 2-year fix at 4.49 per cent, available up to 75 per cent LTV for those looking to buy, move home or remortgage.

Two highly competitive 3-year fixes are also being added to the range - a 3-year fix at 4.19 per cent with a £495 fee, available up to 75 per cent LTV for homebuyers, and a 3-year fix at 4.49% with a £495 fee for remortgagers. The remortgage product is available up to 75 per cent LTV and offers customers the choice of a free valuation and free legal, or a free valuation and £250 cashback. Both products are available in branch or by telephone.

Nici Audhlam-Gardiner, Abbey Mortgage Director, commented: "Many borrowers are looking to lock into a competitive fixed rate in the current economic climate to guarantee certainty of their monthly payments. Demand for 3-year fixes has trebled since November and we've responded with the launch of a highly competitive range to meet borrowers' needs, as well as cutting rates on our existing 2 and 3-year fixes up to 75 per cent LTV and launching a market-leading fee-free 2-year fix. With so many great fixed rates available from Abbey, now is the time to fix in at a low rate and benefit from the security of a fixed monthly payment."

For more information, visit abbey.com