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Abbey reduces existing fixed rates and adds new deals

Abbey reduced rates by up to 0.20% on all existing fixed rate mortgages

Abbey, a subsidiary of UK-based Santander Banking Group, has reduced rates by up to 0.20% on all existing two- and three-year fixed rate mortgages that are available up to 75% loan to value.

The new rates are: two-year fixed rates at 4.19% with a GBP995 fee up to 75% loan to value (LTV); 4.24% with a GBP995 fee up to 75% LTV; 4.29% with a GBP549 fee up to 75% LTV; and three-year fixed rates at 4.49% with a GBP995 fee up to 75% LTV; 4.54% with a GBP995 fee up to 75% LTV; and 4.59% with a GBP549 fee up to 75% LTV.

Abbey said that it will also be launching a fee-free two-year fix at 4.49%, available up to 75% LTV for those looking to buy, move home or remortgage. Two three-year fixes are also being added to the range – a three-year fix at 4.19% with a GBP495 fee, available up to 75% LTV for homebuyers, and a three-year fix at 4.49% with a GBP495 fee for remortgagers. The remortgage product is available up to 75% LTV and offers customers the choice of a free valuation and free legal, or a free valuation and GBP250 cashback.

Nici Audhlam-Gardiner, Abbey’s mortgage director, said: Many borrowers are looking to lock into a competitive fixed rate in the current economic climate to guarantee certainty of their monthly payments. With so many great fixed rates available from Abbey, now is the time to fix in at a low rate and benefit from the security of a fixed monthly payment.