Mortgage lender Abbey has announced it is to cut its rates on both its fixed and flexible offerings.
Abbey's flexible offset products will drop by 0.2 per cent while its three year tracker mortgage rates will decrease by 0.1 per cent.
Meanwhile, the interest rates on its five year fixed low fee mortgage will be cut by 0.2 per cent and as of today the mortgage rates on its two and three year fixed offerings will be reduced by a quarter of a per cent.
"These reductions demonstrate our continued effort to offer customers an excellent deal, in particular our flexible offset mortgages, which now start at 6.23 per cent, look very competitive," remarked Abbey's director of mortgages Phil Cliff.
Earlier this month, Abbey announced that it was going against the market trend by extending the number of exclusive mortgage products it offers.
Adrian Whittaker, key accounts director at Abbey for Intermediaries, noted that while it was a step in the right direction, it would be a "slow and carefully plotted" move.
Abbey cuts mortgage rates
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Abbey cuts mortgage rates
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