Abbey has reduced its rates for remortgage customers to encourage them to review their mortgage situation in the New Year and consider switching to Abbey.
The bank's two-year fixed mortgage rate has been reduced by 0.35 per cent and all other two-year fixed rate mortgage products has been reduced by 0.5 per cent.
Both the two and five-year tracker rates have been reduced by 0.1 per cent.
Head of mortgage marketing at Abbey Lal Tawney said: "For people that want to remortgage to Abbey, our two year fixed rate has been slashed by 0.35 per cent to 4.74 per cent.
"This rate offers borrowers free valuation and legal fees, making the whole deal a very attractive package. We've also taken this opportunity to trim some of our tracker rates, which were already some of the best rates in the market, to make them even more competitive."
The latest HBOS growth forecast has predicted remortgaging will account for half of all mortgage lending in 2006.
Gross lending in the UK next year is expected to reach £290 billion.To read more about Best Mortgage Deals, click here.
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