Abbey reduces rates on high LTV products

Abbey has reduced the rates on some of its high loan-to-value (LTV) mortgages, including reducing fixed products by 0.2 per cent and trackers by 0.1 per cent.

In addition the lender has introduced a new 75 per cent LTV fixed rate deal with a rate of 4.39 per cent with a £995 booking fee.

The changes to the range include reducing the rates on its 80 per cent LTV and 90 per cent LTV fixed rate mortgages by 0.2 per cent and on its 85 per cent LTV tracker mortgages by 0.1 per cent.

For example, the five-year fixed rate, 90 per cent LTV mortgage with a £995 booking fee is now at 6.69 per cent, down by 0.2 per cent.

The two-year fixed rate homebuyer mortgage has an 80 per cent LTV with a £995 booking fee at 5.19 per cent, down by 0.2 per cent.

The two-year tracker, 85 per cent LTV mortgage with a £995 booking fee starts from 4.69 per cent, down by 0.1 per cent.

Nici Audhlam-Gardiner, director of mortgages at Abbey, said: "We have been cutting rates across our whole range over the past month, and we are pleased to be able to cut rates now for those mortgages with a high loan-to-value and to help support the opening up of the housing market.  This is a great time for those people looking to borrow for a home to snap up some highly competitive deals."

Posted at 07:02PM Dec 08, 2009 by Kelly Board in Mortgages & Housing Market  |  Comments[0]