Abbey reduces fixed rates

Rates on broker products have been reduced by 0.05 per cent to 0.15 per cent.

Two-year deals only available through brokers that have seen a 0.05 per cent drop in rate include Abbey’s no fee core deal, now at 6.29 per cent, the no fee home buyer product now at 6.44 per cent, the no fee remortgage deal now at 6.39 per cent, and the two-year fixed core mortgage with a fee of £999 now with a rate of 5.79 per cent. There is also a two-year fixed now at 5.69 per cent with a fee of £1,499.

Mortgages with a rate reduction of 0.15 per cent include the home buyer deal now at 5.99 per cent, and the remortgage deal of 5.89 per cent, both with a fee of £999.

Nici Audhlam-Gardiner, head of mortgages for Abbey, said: “We are committed to ensuring that Abbey’s fixed rate mortgages continue to be among the most competitive in the market. Two-year fixed rates are the most popular products in the Abbey range. As with our other deals we change our rates in response to the market and our competitors.”

Rod Murdison, proprietor of Murdison & Browning, said: “On the face of it, the size of the interest rates makes it not really worth it. But it’s absolutely down to the maths and hoping someone at Abbey has done the sums to show the rate with the fee is competitive.”

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