Abbey cuts rates by 0.38%

Abbey for Intermediaries is reducing rates on its fixed and tracker products from tomorrow.

It has made the following reductions on its fixed rates:

  • Rate reduced by 0.38% on three-year fix at 70% LTV for remortgagers, now 3.99% with a fee of £995
  • Rate reduced by 0.26% on three-year fix at 75% LTV for remortgagers, now 4.29% with a fee of £995
  • Rate reduced by 0.20% on two-year fix at 70% LTV for remortgagers, now 3.55% with a 0.50% fee
  • Rate reduced by 0.16% on three-year fix at 70% LTV for homebuyers, now 3.89% with a £495 fee
  • Rate reduced by 0.14% on two-year fix at 75% LTV for remortgagers, now 3.69% with a 1% fee
  • Rate reduced by 0.10% on two-year fix at 70% LTV for homebuyers, now 3.09% with a £995 fee

On its tracker rates it has made the following reductions:

  • Rate reduced by 0.10% on two-year tracker at 70% LTV for homebuyers, now 2.65% with a £995 fee
  • Rate reduced by 0.10% on two-year tracker at 70% LTV for homebuyers, now 2.55% with a £1495 fee
  • Rate reduced by 0.06% on two-year tracker at 70% LTV for homebuyers, now 2.79% with a 0.50% fee

The lender has also launched a new two-year fix at 4.15% with a fee of £99, available up to 75% LTV to remortgagers.

All of the new products come with the Homebuyer or Remortgage Solution respectively. The Homebuyer Solution offers borrowers the added benefits of a free basic mortgage valuation and £250 cashback on completion, while the Remortgage Solution offers a free basic mortgage valuation, and either free legals or £250 cashback on completion.

Alan Mathewson, managing director of Abbey for Intermediaries, says: “We are committed to supporting the intermediary market and our latest rate reductions mean that intermediaries can now offer their clients an even more competitive range of mortgages, both fixed and tracker. We also expect our newly launched two-year fix at 4.15 per cent with a fee of just £99 to be extremely popular with borrowers looking for a great rate with a low fee.”