Abbey cuts rates on mortgage deals

Abbey has announced a reduction in rates across many of its fixed-rate deals.

From today, the lender will cut the rates of its fixed-rate options at 60 and 75 per cent loan-to-value (LTV) by up to 0.35 per cent.

The move could be of interest to consumers looking for a new mortgage in order to improve their debt management or reduce the risk of bankruptcy, with the firm stating they are now at the top of best buy mortgage comparison tables for two, three and five-year fixed-rate deals at 75 per cent LTV and under.

Director of Abbey Mortgages Nici Audhlam-Gardiner said: “Despite the challenging market conditions our mortgage business has gone from strength to strength,” noting that the cuts were being made on some of the firm’s most popular mortgage options.

The company recently announced it is to offer free debt advice to customers who are struggling to meet their mortgage repayments on time.

By Tom Musk