31
Oct
Lender unveils mortgage cuts
Mortgage lender Abbey has revealed it is trimming the interest
rates on some of its fixed-rate mortgages.
The 60 per cent loan-to-value (LTV) deals for two and three years
and its three-year, 75 per cent LTV offerings have been cut by 0.25
per cent.
Mortgages fixed for three years at 75 per cent are coming down by
0.3 per cent and the two-year, 75 per cent LTV deal is being
trimmed by 0.35 per cent.
In addition to this, the lender is launching a new five-year
fixed-rate deal and has increased the maximum amount it will lend
on its two-year, 60 per cent LTV tracker product to
£550,000.
Stating that the lender's mortgage business has gone from "strength
to strength", director of Abbey mortgages Nici Audhlam Gardiner
said: "This is in large part down to our competitive deals."
Yesterday Alliance & Leicester announced cuts ranging between
0.25 per cent and 0.3 per cent to its fixed-rate home loans.
