Lender expands mortgage range

Mortgage lender Abbey has revealed that it is cutting rate on some of its homeowner loans.

The bank will lower fixed-rate deals with a loan-value (LTV) of 80 per cent or more by 0.2 per cent, which will include one deal where the LTV is 90 per cent.

Trackers are also being cut, with a 0.1 per cent reduction being applied to its 85 per cent LTV products.

As well as these reductions, Abbey is also offering a new mortgage product, which is fixed at 4.39 per cent and a 75 per cent LTV.

The bank has been trimming rates on a number of its products recently and is now doing so on those with the highest LTV, Abbey’s director of mortgages Nici Audhlam-Gardiner remarked.

She added: “This is a great time for those people looking to borrow for a home to snap up some highly competitive deals.”

Those looking for mortgages may also consider Leeds Building Society’s new five-year fixed mortgage range, which includes a deal with a 4.75 per cent rate at an LTV of 75 per cent.

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