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 It is now over 6 months old so the content may be out of date.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 Any products featured may be withdrawn by their provider or changed at any time.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

Does your mortgage lender owe you money?

Earlier this week, the financial watchdog revealed that hundreds of thousands of mortgage holders could have been overcharged by their lender. Are you one of the many who could be in line for a windfall?

Do you think your home will rise in value?

There’s been a lot of talk recently about the rate of house price growth slowing, but is it affecting your personal expectations? According to research, it could be, with fewer people now expecting the value of their property to increase.

Confidence among “second steppers” is on the rise

We all know how difficult it can be taking that first step on the ladder, but what about the second step? In many cases, getting onto the next rung can be just as challenging, but happily, confidence among this cohort appears to be on the rise.