Abbey mortgage rate reduction

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Abbey mortgage rate reduction

Abbey will reduce rates by up to 0.1 per cent on fixed-rate deals from December 20th, it has been announced.

The rate cuts apply to two and three-year fixed-rate mortgages, five-year fixed-rate remortgage deals, ten-year fixed rate homebuyer and remortgage mortgages and 15-year fixed rate deals.

At the same time, Abbey is increasing rates on its tracker products by 0.1 per cent to "reflect market movements".

Nici Audhlam Gardiner, Abbey head of mortgages, said: "Customers looking to fix during this uncertain period will benefit from a 0.1 per cent cut in rates on a number of our most popular fixed-rate products.

"Our long-term fixes are looking extremely competitive with 10 or 15-year deals starting from as little as 5.64 per cent."

A recent study by Abbey found that a quarter of first-time buyers are thinking of moving to a different area of the country to get on the property ladder, with one in six considering moving abroad for the same reason.
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