Mortgages -
Abbey announces cuts in fixed rates - 19/12/2007
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Abbey is to reduce its fixed rate mortgage products from tomorrow, it has announced.
Among its fixed rates to be cut are its two and three year mortgages - which will drop to 5.89 per cent - and its five year fixed rate - which will now be set at 5.74 per cent.
The firm's ten year and fifteen year mortgages will also drop - reflecting last week's interest rate cut from the Bank of England.
Abbey is passing on cuts averaging 0.1 per cent under previous levels to customers.
Commenting on the decision, head of mortgages at the firm Nici Audhlam Gardiner said: "Customers looking to fix during this uncertain period will benefit from a 0.1 per cent cut in rates on a number of our most popular fixed rate products."
Most mortgage providers have cut their variable rate mortgages by the full 0.25 per cent Bank of England cut.
Tracker mortgage products will also automatically have reduced by this amount since last week.
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