Abbey mortgage rate changes announced

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Abbey mortgage rate changes announced

Abbey has announced a slight cut in some of its mortgage rates - the second building society this week to do so.

Following Nationwide's Tuesday trims, Abbey is reducing its rates by a modest 0.05 per cent on all flexible and tracker rate mortgages and 0.17 per cent on some fixed [HYPHEN] rate products.

Customers benefiting most from the cuts are those with fixed-rate products in the 75 per cent Loan-to-Value (LTV) range, with the five-year fix now at 5.75 per cent, down from 5.92 per cent.

A spokesperson for Abbey Mortgages comments: "Our focus is to provide all of our customers with value and choice, whilst continuing to review our mortgage range and rates against a competitive and dynamic market.

"As such, we have taken the opportunity to reduce rates to a small number of fixed and tracker products within our range."

It's not the first time Abbey has defied market conditions recently - at the start of the month it announced its instant access saver rates would remain unchanged despite a cut in the Bank of England base rate.
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