Abbey cuts fixed rates

Abbey has announced reductions in a number of its fixed rates for new buyers, with one of its remortgage deals among the changes.

The adjustments apply only to two-year products, with Abbey's no-fee fixed remortgage offer now available at 6.49 per cent – a 0.1 per cent cut.

A bigger rate cut of 0.21 per cent has been applied to the lender's regular two-year remortgage package, which has a new rate of 5.99 per cent and a fee of £799.

Abbey's core two-year fixed-rate mortgage has been cut by 0.2 per cent, giving it a rate of 5.99 per cent with a fee of £675, while a matching reduction on the two-year fixed homebuyer deal gives it a new rate of 6.19 per cent.

Nici Audhlam-Gardiner, head of mortgages at the firm, said: "We are committed to ensuring that Abbey's fixed rate mortgages continue to be among the most competitive rates in the market.

"Two-year fixed-rate products are the most popular products in the Abbey range. As with our other mortgages we change our rates in response to the market and our competitors."

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