Effective from Friday 5 October, Abbey’s five-year fixed rate mortgages have been reduced by up to 0.36 per cent, due to a fall in long term swap rates. In addition, ten-year fixed rate mortgages been cut by up to 0.25 per cent.
Full details are as follows:
- 5 year fix - from £589 at 5.98 per cent
- 5 year fix with homebuyer solution - £599 at rates from 6.19 per cent
- 5 year fix with remortgage solution - from £589 at 6.13 per cent
- 5 year fix for loyal movers - at £499 and a rate of 6.14 per cent
- 5 year fix with premier homebuyer solution - £599 with rates from 6.44 per cent
- 10 year fix - £649 at 5.99 per cent
- 10 year fix with homebuyer solution - £389 at 6.24 per cent
- 10 year fix with remortgage solution - £389 at 6.24 per cent
Sue Hayes, Abbey director of mortgages, said: "Now is a good time to take out a long term fix. With the current uncertainty in the money markets, we found that nearly 40 per cent of homeowners would choose a five-year fix or longer if they were to remortgage tomorrow. What’s more, with providers bringing their rates down, these long term products are looking particularly competitive.”
