18
Dec
New mortgage rate cuts announced
Abbey has announced a series of new mortgage rate cuts.
The lender is to trim up to 0.6 per cent off a number of two, three
and five-year fixed-rate mortgages from tomorrow (December
19th).
It is the second such reduction by the lender this month and the
new move also includes the introduction of an 85 per cent
loan-to-value product available over the five-year period.
Director of Abbey Mortgages Nici Audhlam-Gardiner commented: "Abbey
continues to offer very competitive deals, demonstrating that we
have and continue to be open for business."
Yesterday the Co-operative Bank announced it is to trim its
standard variable rate from 5.24 per cent to 4.74 per cent, a
figure the bank's head of mortgages Terry Jordan described as "very
competitive".
Director general of the Council of Mortgage Lenders Michael Coogan
said today that mortgages will be cheaper next year than they have
been in 2008.
