Mortgage rates cut by Abbey

Abbey has adjusted its fixed-rate mortgages, introducing reductions of up to 0.6 per cent, it has announced.

The lender made the move yesterday, unveiling new rates for its two-year homeowner loans that carry loan-to-values (LTVs) of 60 and 75 per cent.

And Abbey also cut rates “significantly” on its 85 per cent LTV deal, as it launched what it described as “market-leading” deals.

Those wishing to take out a two-year fixed-rate mortgage at 60 per cent LTV can now expect to pay a rate of 4.29 per cent, while the 85 per cent LTV three-year fixed loan carries a charge of 5.84 per cent.

“We now offer market-leading trackers and fixed rates, including some very competitive rates for lower-deposit customers,” mortgage director Nici Audhlam-Gardiner stated.

Recent figures from the Council of Mortgage Lenders revealed that the number of mortgages approved by lenders in October increased when compared to figures from the previous month.

By Tom Musk