More mortgage rate cuts from Abbey

From Friday 27 November, borrowers will be able to benefit from further reductions to Abbey and Alliance & Leicester's mortgage rates.  In particular, 2-year purchase and remortgage trackers are reducing by up to 0.3 per cent with rates now from 2.94 per cent for a 75 per cent LTV deal.  The new products are available through both Abbey and Alliance & Leicester branches as well as via the telephone.

There is also good news for first time buyers looking to get onto the property ladder as Abbey and A&L is launching a 90 per cent LTV 3-year fix deal with a market-leading rate of 5.99 per cent and a £495 fee.  This includes a free valuation and £250 cashback on completion.

Other new products launched include a 2-year fix 75 per cent LTV at 4.18 per cent with a £995 fee.

Abbey and A&L's range of ‘no booking fees' deals for existing current account customers, saving borrowers up to £995 are still available. The new deals include a market-leading 90 per cent LTV 3-year fix at 5.99 per cent and a 2-year fix 75 per cent LTV at 3.89 per cent, both with no fees.

Nici Audhlam-Gardiner, Director of Mortgages at Abbey and Alliance & Leicester said: "The latest reduction in rates is yet more good news for borrowers.  With speculation that the Bank of England base rate might stay put for a while longer, trackers are back in favour and to help those borrowers looking for a tracker, we have reduced rates."

For more information on Abbey Mortgages, log on to abbey.com, or visit your local Abbey or Alliance & Leicester branch.