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Abbey cuts mortgage rates
Abbey has announced further cuts in selected flexible and tracker mortgage rates as well as fixed rate deals. Fixed-rate products in the 75% Loan-to-Value (LTV) range are reducing by up to 0.17% - the 5-year fix now coming in at 5.75%.
The rate reductions are being made to the 2-year, 3-year and 5-year fixed rate products at 75% LTV and those with free valuation and help with legal costs (both for homebuyers and remortgage customers).
Abbey had already decreased rates on its flexible rate and tracker mortgages by 0.10% in response to the Bank of England's recent cash injection into the system. The additional 0.05% reduction anticipates future falls in LIBOR rates.
The new rates are as follows (all 75% LTV): 2-year fixed rate - 5.95% with £995 fee; 2-year tracker rate - 5.97% with £999 fee; 3-year fixed rate - 5.87% with £999 fee and 5-year fixed rate - 5.75% with £1,499 fee.
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