Mortgage News Abbey Fixed Rate Mortgage Is Lowest In 10 Years 3275

Abbey fixed rate mortgage is lowest in 10 years

30 April 2009 / by Rebecca Sargent
Abbey has launched its lowest fixed rate mortgage range in 10 years, offering interest rates from 4.09 per cent for a three year fix.

The range has been launched in response to recent research conducted by Abbey mortgages, which discovered that now is the time to fix for many homeowners who believe that base rate has fallen as low as it can go at 0.5 per cent.

In fact, the study found that the number of people holding out for a lower mortgage rate has fallen from 17 per cent to seven per cent in just two months.

Commenting on the new mortgage deals, Nici Audhlam-Gardiner, director of mortgages at Abbey said: “In our new range, we are offering borrowers looking to remortgage an incredible deal with the lowest fixed rates in 10 years.

“We continue to offer borrowers market-leading rates across our extensive range. For those looking to remortgage, it’s not just the rate that’s good but the choice of terms means there’s something for everyone.”

The new fixed rate mortgage range is available until June 14, and includes a seven year fix at 4.99 per cent, and a 15 year fix at 5.38 per cent, with a maximum loan size of £250,000.

Alongside the new range, Abbey has also launched an 85 per cent loan to value (LTV) fixed mortgage with a rate of 5.74 per cent, which has the added incentive of £250 cashback on completion.

Ms Audhlam-Gardiner added: “In the last few weeks we have extended our range so there is something to suit every borrower whether they are remortgaging, moving house or making their first step onto the ladder.”

Meanwhile, Abbey announced yesterday that its pre-tax profits were up 25 per cent in the first quarter of 2009 compared to a year ago.

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Written by Editorial Team