31 Oct

Lender unveils mortgage cuts

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.

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