Abbey adds stepped mortgages to range

The lender has added a total of five new products to its range, while making reductions to a further eight products. Two stepped products have made an appearance in the Abbey range, one a three-year tracker rate and the other a three-year fix. The tracker begins at a rate of 4.99% for the first year, moving to 5.79% in its second year and finishing the third year at 6.49%, though these rates may fall if the Bank of England makes changes to its base rate. The fixed-rate product starts at 4.99%, moving up to 5.69% after the first year and finishing on 6.39% at the end of the term. Both ...