View more on these topics

Abbey lowers rates on fixed and trackers

Abbey is cutting rates by up to 0.6% on its fixed rate deals and lowering rates on its tracker range by up to 0.9%.

The rates available include a two-year fixed rate deal at 4.49% with a £995 at 75% LTV and a two-year fixed deal with the same fee at 4.29% at 60% LTV.

Abbey has also introduced an LTV of 85% for core and homebuyer business. A three-year fixed rate deal is available at 5.84% with a £995 fee.

For its two-year trackers, products include a rate of 4.29% with a £995 fee for 60% LTV and also a 3.99% with a £1,995 fee for 60% LTV.

Both the fixed rate and tracker changes are with effect from Wednesday December 10.

Nici Audhlam-Gardiner, mortgage director at Abbey, says: “This year Abbey has written one in four mortgages. This demonstrates we have been and continue to be open for business.

“This is the first time since 2004 that we have offered rates at levels below 4%.”

Recommended

Santander to cut 1900 UK jobs

Spanish banking giant Banco Santander is cutting 1,900 jobs across all three of its UK brands.

Going all the way with Gordon

Gordon Brown and his bully boys are about to have another go at banker bashing – theyve summoned the big names in the industry to 11 Downing Street for an earful about not following base rate all the way down.And given the way that both Nationwide and Halifax retreated under political pressure over their right […]

Egg fined £721,000 for PPI failings

Credit card provider Egg Banking has been fined £721,000 by the Financial Services Authority for serious failings in the sales of payment protection insurance.

My client is stuck between Rock and hard place

My client is an existing Northern Rock customer who wished to port her flexible fixed rate deal to avoid a 3% early repayment charge. The product is competitive at 5.69%.

Newsletter

News and expert analysis straight to your inbox

Sign up