Abbey cuts cost of fixed-rate deals

Following in the footsteps of Nationwide earlier today, Abbey has cut rates on several of its leading mortgages.

Cuts of as much as 0.20 per cent have been made on the organisation 75 per cent loan-to-value (LTV) range from today.

Abbey now has a two-year tracker at 6.04 per cent, while the three-year deal is at 6.09 per cent – following cuts of 0.2 and 0.1 per cent respectively.

The two-year fixed rate deal sees a fall of 0.14 per cent to 6.44, followed by the three-year deal which also falls to 6.44, following a 0.2 per cent cut.

A five-year deal is open to customers at 6.49 per cent, following a 0.11 per cent cut.

Abbey also announced it is to introduce a new range of ten-year fixed-rate deals, with prices from 6.25 per cent.

There were also details of a range of flexible deals, a five-year tracker and deals available for up to 85 per cent and 95 per cent LTV.

An Abbey spokesperson said: "Abbey's strength in the mortgage market allows us to continue to offer competitive deals."

Chris O'Toole