1 Sep

More mortgage rate cuts announced

More mortgage rate cuts announced

Abbey has announced further mortgage cuts as falls in swap rates continue to enable lenders to lower their borrowing costs.

The lender has revealed it is to launch a new range of products at a 60 per cent loan-to-value (LTV) figure, with a new lower fee of £499 on loans of up to £250,000.

It is also cutting its 70 per cent LTV by 0.2 per cent on its two-year deal and by 0.1 per cent on its one-year deal.

The new deals will be offered from Monday September 1st.

Another lender that has introduced new deals this week is the Coventry Building Society.

It has brought out a range of new offset mortgages, including a three-year fixed-rate deal at 5.99 per cent and a ten-year deal at 6.09 per cent.

Referring to recent swap rate falls, head of sales Colin Franklin said: "We are keen to pass these reductions on through competitively priced products for brokers and customers."

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