Fixed rate mortgages just got lower

From Wednesday 7 October, borrowers will be able to benefit from even lower mortgages rates as Abbey reduces some of its fixed rate mortgage range by as much as 0.11 per cent and lower tracker rates.

The new fixed rates are available through both Abbey and Alliance & Leicester branches and are as follows:

70 per cent LTV 2 yr fix homebuyer product at 3.88 per cent, fee £995 - rate reduced by 0.10 per cent.

85 per cent LTV 3 yr fix homebuyer product at 5.88 per cent, fee £995 - rate reduced by 0.11 per cent.

In addition, for those customers who wish to take out a variable mortgage, a new 70 per cent LTV, two year tracker mortgage at 2.94 per cent (Remortgage & Homebuyer), with a fee of £995 is now available through both Abbey and Alliance & Leicester branches.

Nici Audhlam-Gardiner, Director of Mortgages at Abbey said: "With interest rates at a historical low many people are looking to tie in to fixed rates now, and in what is traditionally a very popular time of the year to purchase a house we expect that these reductions to our fixed rate product range will help more people find an affordable mortgage".

For more information, customers should visit abbey.com.