Abbey Mortgages cuts rates

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Abbey Mortgages cuts rates

Cheaper Abbey mortgages are available to consumers after the lender has announced that it is "dramatically" cutting rates on some of its deals.

Its range of five-year fixed-rate mortgages is now available with rates of 5.63 per cent after a reduction of up to 0.46 per cent.

A fee of £499 applies for Abbey mortgages with a loan-to-value (LTV) of up to 90 per cent, while those with 95 per cent LTV have a fee of £599.

Abbey Mortgages head Nici Audhlam-Gardiner said the five-year mortgages range offers "fantastic" options.

A "particularly good deal" is available for homebuyers and remortgagers who are looking to fix their mortgages for five years, she added.

"Our solutions for these buyers - which offer free legals and valuation and normally have slightly higher rates - are currently on special offer at the same price as the core version of the product," Ms Audhlam-Gardiner went on to say.

Last month, Abbey Mortgages found that 31 per cent of homeowners would opt for a fixed-rate deal if they were to remortgage now.
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