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Abbey mortgages improve their fixed rate mortgage deals

22/01/2008

Abbey Mortgages have started to cut down rates on a range of its fixed rate mortgage deals.

The 3-year fixed rate mortgage deal will have rates decreased to 0.1 per cent, leaving these the ‘finest purchase’ over all major high street lenders. The interest rates commence from 5.62% with £999 fee.

Abbey have also decided to cut rates on its popular 2-year fixed rate products. The interest rates on this product commence from 5.67 per cent with a £999 fee.

They are also in the process of launching a 3-year tracker stepped product at 0.51 per cent below the Bank of England’s base rate. Head of Mortgages, Nici Audhlam-Gardiner at Abbey commented: “Our 3-year range is looking extremely competitive at the moment, and someone moving from a competitors’ SVR to that deal could be looking at a saving of £140 a month on their mortgage payments.”

“We think the new stepped product will also prove popular, particularly with existing mortgage holders coming to the end of the deals they fixed in at two years ago.”


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