Abbey rate changes explained
www.moneynews.co.uk > Mortgages > Abbey rate changes explained
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Money News |
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Abbey rate changes explained
Fri 26th Sep 2008
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It is introducing new three and five-year fixed-rate mortgages at 85 per cent loan-to-value (LTV) with a rate of 6.34 per cent and a £995 fee.
The range of two-year deals at this LTV is being withdrawn.
Abbey said this was "in line with customer demand", saying that there has been a trend towards medium-term deals in recent months.
It added that its research had found 21 per cent of people would choose a three-year fixed-rate deal and that those who want a two-year fixed-rate product comprise just eight per cent.
According to the Land Registry, the average house price fell by 4.6 per cent in August to £174,493.
This means a month-on-month drop of 1.9 per cent.
London has also seen a decrease in its average property value over the last 12 months of 3.2 per cent.
The average London house now costs £336,620.
Click here for more mortgage news.
Related News : Mortgages |
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Related News : Santander |
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