Fixed rate deals now start at 5.93 per cent, with free valuations and legals and a £499 fee for those with loans of up to a maximum of 90 per cent.
Offering further support to this rate decrease is the lender's research which highlighted that almost as many people plumping for a fixed rate would opt for a five-year product as would a two-year one.
Borrowers can also access the products at an LTV of 95 per cent for a slightly higher rate of 6.54 per cent and a £599 fee.
Nici Audhlam-Gardiner, head of mortgages at Abbey, comments: “We’re finding more people are turning to longer-term products these days – one, because of the certainty they offer and two, because the deals are so well priced."
