Twitter Facebook RSS FEEDS

Abbey cuts mortgage rates again

Friday, 11 July 2008 12:52 AM

Abbey has announced it will cut the cost of its two and three-year fixed-rate mortgage deals, with effect from Monday.

The company confirmed it is reducing the rates on the deals by up to 0.15 per cent.

Consequently, a two-year fix from Abbey now starts from 6.34 per cent with £999 fee and a three-year fix at 75 per cent loan-to-value (LTV) from 6.29 per cent.

Mortgage lenders have come under criticism in recent weeks for failing to match the Bank of England's rate of interest and demanding ever increasing deposits from borrowers.

However, this is the second cut from Abbey in ten days.

Furthermore, the lender announced it will be adding a new three-year fix at 70 per cent LTV to its range.

This deal has a rate of 5.99 per cent with a £1,695 fee and is available for loans of up to 250,000 GBP.

While the large deposit and fee may deter some borrowers, Abbey claim: "This product is market leading even when considering the fee-adjusted rate."

"Abbey is committed to offering competitive deals and our strength in the mortgage market allows us to do this," said Phil Cliff, Abbey's director of mortgages.

"These rate reductions are the second set that Abbey has made in just ten days. What's more, we've added another market leading deal to the range.

"This three-year fix has a rate of just 5.99 per cent and even when the slightly higher fee is accounted for, it is still best in market."

Chris O'Toole

Related stories

Abbey cuts mortgage rates

Abbey cuts mortgage rates

Abbey cuts mortgage rates

 Abbey cuts mortgage rates further

Abbey cuts mortgage rates further

Abbey cuts mortgage rates further
Abbey follows Bank's leading cutting rates

Abbey cuts tracker mortgage rates

Abbey cuts tracker mortgage rates

 Leeds cuts mortgage rates

Leeds cuts mortgage rates

Leeds cuts mortgage rates
HBOS cuts mortgage rates

HBOS cuts mortgage rates

HBOS cuts mortgage rates

 NatWest cuts mortgage rates

NatWest cuts mortgage rates

NatWest cuts mortgage rates
Abbey reverses interest rate cuts

Abbey hikes interest rates

Abbey hikes interest rates

 First Direct cuts mortgage rates

First Direct cuts mortgage rates

First Direct cuts mortgage rates
AboutProperty.co.uk

Nationwide to cut mortgage rates

Nationwide is set to cut mortgage rates on a range of its products this week.

 Mortgage application

Mortgage rates rise despite lenders' cost savings

The banks have been accused of squeezing their customers when the property market is already suffering and buyer confidence is low.

Search property

Headlines

Directory

Alaris

Alaris Logo
Alaris specialise in quality Bathrooms and Kitchens along with many other unique products for your home. The range of kitchens, kitchen worktops and bathrooms is extensive and the highest quality so you are sure to find what you want. New bathroom furniture, bathroom suites, taps, showers and cabinets are added regularly.

Bathrooms365

Bathrooms365 Logo
Bathroom365 supply all areas of your new bathroom - leading-edge designed bathroom suites, stylish bathroom taps and showers, all styles and forms of shower enclosures and a vast collection of bathroom furniture.

Fitmykitchen

Fitmykitchen Logo
Fitmykitchen are specialist suppliers of kitchen appliances, sink taps, waste bins and furniture. So whatever you want from kitchen sink taps to waste bins look no further than fitmykitchen, UK, the specialist suppliers of kitchen appliances, stainless steel sink taps, waste bins and kitchen furniture.

MyStampDuty

MyStampDuty Logo
We help people buying property all over the UK to minimise Stamp Duty Land Tax on residential and commercial property. If you are looking at purchasing a new home or business premises over £500,000, contact us today by completing the form on the right

Oak Furniture Land

Oak Furniture Land Logo
For hardwood furniture, including Solid Oak, Mango, Mahogany, Sheesham, Acacia, Ash and Birch, look no further than Oak Furniture Land.

Rated People

Rated People Logo
Whatever type of home improvement or garden remodelling project you have, Rated People can help you to identify the right tradesmen for the job in a way that is quick, easy, convenient and, as it is based on real-life recommendations, trustworthy.

Residential Land

Residential Land Logo
If you are looking for short or long term rentals in Central London, Residential Land have a portfolio of over 1200 flats and houses in the best postcodes across the Capital.

Simply Bedrooms

Simply Bedrooms Logo
Simply Bedrooms, a part of Sleepwell Bedrooms Ltd, supplying quality beds, wardrobes, sliding door wardrobes and bedroom furniture at low prices and great service, London and Home Counties Specialists.

Door Handles UK

Door Handles UK Logo
Door Handles UK is the UK's largest online range of Door Handle accessories, Door Hinges, Locks and Latches and so much more and all at genuine internet prices. We have a wide range of Chrome, Brass and Glass Crystal Mortice door knobs in both traditional and contemporary designs, whatever your taste and budget you will find a design to suit.

Woodlands Furniture

Woodlands Furniture Logo
We are an established family business situated in rural Herefordshire specialising in beautiful handcrafted classic reproduction furniture. Our comprehensive ranges are readily available from stock.

WowBBQ

WowBBQ Logo
Welcome to the World of Weber. We are the largest independent online Weber BBQ retailer in the United Kingdom. WOWbbq.co.uk is a Weber Partner Store and can give you the best advice for all your Weber BBQ needs.

Join our directory aboutproperty.co.uk

Twitter

Join the conversation at #aboutproperty

Directory articles

A guide to finding the right kitchen sink

When redesigning a kitchen or giving the room a makeover, it is important not to forget about the less obvious aspects of the space. Kitchen sinks are an essential fitting, but often overlooked, despite the fact there is a wide choice of styles available.

Useful tips to help find a flat in London

Looking for flats in London can be a frustrating process, given the capital's size, demand for rental accommodation and varying prices. It is vital, therefore, that you do plenty of research and act quickly to ensure you get the place that you want.

What do you need to consider when buying a mattress?

If you looking for a new mattress, you need to get the decision right, as getting it wrong could impact on your overall health and wellbeing. As well as comfort and size, you also need to consider other points, such as any health issues you may have.