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Mortgages -
Abbey reduces fixed rates - 22/01/2008
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Following other mortgage providers, Abbey has announced cuts in its long term fixed rate products.
The new rates, which come into effect tomorrow, include a 0.25 per cent cut in the firm's 10 and 15-year rates.
What's more, Abbey's three-year fixes have also been cut by 0.1 per cent - and some of the two-year products have also been made cheaper.
Nici Audhlam-Gardiner, head of mortgages at Abbey, commented: "We're really pleased to be in a position where we can cut rates on our three -year and longer-term fixes. Our three -year range is looking extremely competitive at the moment."
She added: "We think the new stepped product will also prove popular, particularly with existing mortgage holders coming to the end of the deals they fixed in at two years ago.
"The starting rate of 4.99 per cent will help them to avoid a big rate shock on remortgaging."
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