Mortgage lender Abbey have become the latest bank to lower their fixed-rate mortgage cost in line with a relaxation of the cost of wholesale funding. Both the two and three year fixed-rate Abbey mortgage deals will be lowered by 0.15 per cent as of Monday.
The decision by Abbey is their second cut in the last ten days, and Abbey have said that swap rates falling in cost have allowed them to lower their prices slightly. However, in order to access Abbey’s best mortgage rates, homeowners need a deposit of over 30 per cent.
According to recent expert opinion, more and more borrowers are looking for long-term fixed-rate mortgage loans, to secure monthly repayments and fix rates for a long period of time.
Abbey reduces fixed-rate mortgage cost
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Abbey reduces fixed-rate mortgage cost
Fri, 11 Jul 2008
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