Abbey cuts rates

www.moneynews.co.uk > Mortgages > Abbey cuts rates

Abbey cuts rates

Thu 4th Sep 2008

Abbey is reducing the rates on various mortgage deals starting from tomorrow.

The cuts to its two, three and five-year fixed-rate deals are as high as 0.30 per cent.

Its five-year deal fixed at 75 per cent loan to value will be down by 0.30 per cent to 5.89 per cent.

Abbey is also cutting the rates on its new large loan products for borrowers wanting a loan of £550,000 to £5 million.

A three-year fixed mortgage of 60 per cent loan to value is down by 0.35 per cent to 6.45 per cent.

Phil Cliff of Abbey Mortgages said the lender was "determined to offer our customers the best deals".

The Council of Mortgage Lenders (CML) has written to chancellor Alistair Darling after yesterday's announcement of a package of measures aimed at reviving the housing market.

Director general Michael Coogan welcomed the moves but said that funding problems in the mortgage market are "a fundamental bar" to its recovery.

Click here for more mortgage news.

Related News : Mortgages
	Brits 'failing to grasp the importance of an interest in mortgages'
	BBA highlights mortgage lending growth
	Are interest-free mortgages a bad idea?
	Buy-to-let mortgages are 'more profitable'
	House price performance to impact lenders' criteria
	More Brits 'to choose long-term mortgages'
	Offset mortgages 'are the future'
	UK house prices 'set to fall'
	Hybrid mortgages 'are a good deal' for FTBs
	UK public expects house price increase

Related News : Housing market
	Nationwide housing market report 'shows little progress'
	Nationwide housing market report suggests people value rail proximity
	Halifax housing market study 'shows slowdown in price growth'
	Positive news for 'nearly all' UK regions, according to Nationwide housing market document
	Nationwide housing market research 'shows stable picture'
	Firstrung: Abolition of Hips 'has had no impact on housing market'
	CIH: Parents question children's ability to take out a mortgage
	Rightmove: UK house price growth slowing down
	Halifax highlights popularity of coastal properties
	Santander claims HIPs were 'headache' in the housing market

Related News : Santander
	FSA fines Santander 1.5m
	Santander launches new fixed rate Isas
	Santander launches upfront interest bond
	Contactless banking 'still has some way to go'
	Santander reveals updated fixed mortgage rates
	Confidence of first-time buyers increases, suggests survey
	Santander launches fixed-rate mortgage range
	Third of parents would pay extra for school catchment property
	Santander offers first monthly cashback credit card
	Bank of England maintains bank rate at 0.5 per cent