Abbey Mortgages cuts rates
www.moneynews.co.uk > Mortgages > Abbey Mortgages cuts rates
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Money News |
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Abbey Mortgages cuts rates
Tue 22nd Jan 2008
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The bank is offering competitive 75 per cent loan-to-value ranges for two and five-year home loans, reducing its ten and 15-year fixed mortgage rates by as much as 0.25 per cent and cutting its entire range of three-year fixed rate loans by 0.1 per cent, making it a high street "best buy".
From January 23rd, Abbey Mortgages will be offering a new three-year fixed rate and a three-year tracker stepped product at 0.51 per cent below Bank of England base rate in year one.
Nici Audhlam-Gardiner, Abbey head of mortgages, commented: "We think the new stepped product will also prove popular, particularly with existing mortgage holders coming to the end of the deals they fixed in at two years ago."
A recent Abbey study indicates that five million Brits are currently on an uncompetitive mortgage deal, costing the average UK homeowner around five pounds extra per day, or £38,432 over the course of the home loan.
Related News : Mortgages |
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Related News : Santander |
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