Mortgage News Abbey Cuts Fixed Mortgage Rates By Point 15 Per Cent 2393
Written by Editorial Team
Abbey cuts fixed mortgage rates by 0.15%
23 October 2008 / by Rebecca Sargent
Abbey has become the latest bank to pass on some of the recent base rate cut of 0.5 per cent by cutting its 3 year fixed mortgage rate by 0.15 per cent.
The changes will take effect from today and will apply to Abbey’s 70 per cent LTV three year fixed deal. The cut is in response to the fact that fixed rate deals continue to be the most popular despite the base rate cut of 0.5 per cent.
According to research from Abbey, more than half of homeowners would still opt for a fixed rate mortgage. The findings also showed that three year fixed rate deals were the most popular with 23 per cent of homeowners choosing them.