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Abbey and Halifax cut fixed rates by up to 0.2 per cent

Abbey for Intermediaries is to reduce its two-year fixed rate products at 60 per cent 75 per cent loan-to-value by up to 0.2 per cent.

The changes, which AFI will reveal in full tomorrow, take effect from tomorrow and include mortgages in the lender’s loyalty range.

The lender is also withdrawing its two-year tracker homebuyer product at 90 per cent LTV and its five-year fixed rate homebuyer product at 90 per cent LTV.

Full applications on all amended and withdrawn products must be submitted by midnight tonight to secure a booking.

Halifax is reducing its three-year 90 per cent LTV fixed rate product for homebuyers by 0.2 per cent and is withdrawing its two-year 90 per cent LTV fixed rate for homebuyers temporarily. The changes take effect from tomorrow.

Prolific Mortgage Finance managing director Lea Karasavvas says: “We have not seen a reduction in fixed rates from the big mainstream lenders for a while. And with a lender like Abbey making these changes, hopefully other lenders will follow suit.”

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