Fixed Rate Mortgage Cuts on Two And Three Year Terms

Published: 7/12/2010

The Abbey National has announced rate cuts on their two and three year fixed rate mortgages of up to 0.15 percent, the second round of cuts in the last 10 days.

The lowest 2 year fixed rate Abbey National mortgage can now be had at 6.34 percent, with a fee of GBP999, while the equivalent three year offer is just 6.29 percent. These mortgages require at least a 25 percent deposit to qualify.

Soon to be breaking the 6 percent barrier is a new Abbey National mortgage with a 5.99 percent rate, though the maximum loan to value will be 70 percent rather than the usual 75 percent. This will be for a three year fixed term and has a fee of GBP1,695, with a maximum loan value of GBP250,000.