Abbey fixed-rate mortgage rates reduced
www.moneynews.co.uk > Mortgages > Abbey fixed-rate mortgage rates reduced
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Money News |
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Abbey fixed-rate mortgage rates reduced
Thu 4th Oct 2007
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Due to a decrease in long-term swap rates, five-year fixed-rate mortgages on offer from Abbey have been reduced by up to 0.36 per cent, while ten-year fixed-rate mortgages have been lowered by up to 0.25 per cent.
Some 39 per cent of people responding to an Abbey survey revealed that they would choose a longer-term fix if they were going to remortgage tomorrow.
Sue Hayes, Abbey director of mortgages, commented: "Now is a good time to take out a long term fix. With the current uncertainty in the money markets, we found that nearly 40 per cent of homeowners would choose at a five-year fix or longer if they were to remortgage tomorrow.
"What's more, with providers like Abbey bringing their rates down, these long-term products are looking particularly competitive."
Last month, Abbey lowered rates on a range of its two-year fixed-rate mortgages.
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