The new rates are as follows:
5.04 per cent with a £995 fee for 60 per cent LTV
5.19 per cent with a £995 fee for 75 per cent LTV
5.34 per cent with a £549 fee for 75 per cent LTV (up to a maximum of £150,000)
Abbey has already reduced the rate on its 2 and 3 year fixed rate mortgages to 4.49 per cent with £995 fee; and 4.99 per cent with a £995 fee respectively, both for 60 per cent LTV.
Nici Audhlam-Gardiner, Abbey Mortgage Director commented: "In response to customer demand, we have now lowered the rates on our 5 year fixed rate deals as well as the 2 and 3 year fixed rates on which we lowered rates last week. The last time they were at this level was over two years ago - in April 2006.
"The cut in rates is timely as our research shows that twice the number of people are choosing 5 year fixes now than in September 2008, 16 per cent compared to just 8 per cent. In a low base rate environment, it is a good opportunity for customers to take advantage of low rates and fix in to gain longer-term certainty of their monthly payment."
