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Abbey and Halifax cut fixed rates by up to 0.2%

Abbey for Intermediaries is to reduce its two-year fixed rate products at 60% and 75% loan-to-value by up to 0.2%.

The changes, which AFI will reveal today, take effect from today and include mortgages in the lender’s loyalty range.

The lender is also withdrawing its two-year tracker homebuyer product at 90% LTV and its five-year fixed rate homebuyer product at 90% LTV.

Halifax is also reducing its three-year 90% LTV fixed rate product for homebuyers by 0.2% and is withdrawing its two-year 90% LTV fixed rate for homebuyers temporarily.

Lea Karasavvas, managing director of Prolific Mortgage Finance, says: “We have not seen a reduction in fixed rates from the big mainstream lenders for a while. And with a lender like Abbey making these changes, hopefully other lenders will follow suit.”


Economic tracker – May

Buy-to-let has been one of the success stories in recent years among the doom and gloom of economic uncertainty and recession. It’s been seen as the darling of the mortgage world for both lenders and landlords, and has even prompted the emergence of first-time landlords who are turning to rental yields in an attempt to achieve a better return on their investments.

Iain Chadwick

The Budget 2015: a brief overview

Following George Osborne’s delivery of his sixth Budget as chancellor and the last of this current parliament, we have provided a brief overview of the initiatives put forward in his statement, focusing on the topics that have an impact upon the pensions landscape, savings, personal taxation and businesses.


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