Abbey cuts rates on two and three-year fixed deals

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Abbey cuts rates on two and three-year fixed deals

Fri 11th Jul 2008

Abbey is decreasing the rates on its two and three-year fixed rate deals by up to 0.15 per cent from Monday.

It is the second time Abbey has cut rates in ten days.

A two-year fix from the major lender now starts from 6.34 per cent with a £999 fee while a three-year fix at 75 per cent loan-to-value begins at 6.29 per cent.

The mortgage giant is also adding a new three-year fix at 70 per cent loan-to-value, with a 5.99 per cent rate and a £1,695 fee.

It is available for loans of up to £250,000.

Phil Cliff, Abbey's director of mortgages, said the lender is "committed to offering competitive deals".

Meanwhile, Leeds Building Society has launched a five-year fixed rate mortgage at 5.99 per cent with no higher lending charge, moneyextra.com reports.

The deal allows ten per cent capital repayment each year without penalty and is available for up to 80 per cent loan-to-value.

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