Abbey lowers rates on long-term fixed-rate mortgages

7 October 2008

Abbey’s 5-year fixed core and re-mortgage products at 75% LTV are being lowered by 0.10% to 5.79%, with the booking fee falling by over £500 from £1,499 to £995.

Phil Cliff of director of mortgages at Abbey, says: “Customers looking to secure their mortgage repayments at a competitive rate for longer periods can benefit from the very competitive 5-year fixed rate mortgage at 5.79%.

"To make these mortgages even more accessible we have also lowered our booking fees by over £500.”

Abbey’s 2 and 3-year fixed re-mortgage products at 60% LTV will see the maximum loan size increase from £250k to £350k and will see rates raised by 0.15%.

It has also raised the rates on its short-term 2 and 3-year fixed rate mortgages by up to 0.15%.