Abbey brings back tracker mortgages - Mortgages - News - Moneyfacts


Abbey brings back tracker mortgages

Abbey brings back tracker mortgages

Category: Mortgages

Updated: 12/11/2008
First Published: 12/11/2008

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Abbey has announced that it will re-introduce some of its tracker mortgages.

Many of the major secured loans providers withdrew products that track the Bank of England's base rate following the 1.5 per cent cut last week.

But Abbey has revealed that it will be the first to re-enter the market when a range of two-year deals are made available tomorrow.

The lender also announced cuts to its fixed-rate products, with some of these two-year mortgages being reduced by as much as one per cent.

Director of Abbey Mortgages Nici Audhlam-Gardiner remarked: "The base rate cut has eased the pressure on swap rates, particularly two-year swaps, which means we can significantly cut rates on our two-year fixed-rate mortgage range."

It follows the announcement by Coventry Building Society that its standard variable rate for secured loans customers is being reduced by 1.5 per cent - in line with the Bank of England's cut.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Remortgaging bounces back

Remortgaging has been enjoying a welcome boost in recent months, despite September’s slight dip, with many homeowners capitalising on record low mortgage rates to boost their finances.

Bank of Mum and Dad holds the (house) key

The Bank of Mum and Dad is an important source of finance for many young adults, and it seems that they still hold the key – in more ways than one.

Fee-free mortgages on the rise

Mortgage rates may be at record lows, but for some people, the extra costs associated can make switching deals a financial impossibility. It’ll come as welcome news, then, that the number of fee-free deals has more than doubled over the past year!