Abbey cuts rates on long-term deals

Abbey says the reductions, which come into effect on 5 October, are due to a fall in long-term swap rates. Five-year fixed rates have been reduced by up to 0.36%, while ten-year fixed products have seen rates fall by up to 0.25%. The lowest rate in Abbey’s five-year fixed range is now priced at 5.98% with a fee of £589. The most expensive five-year fix is 6.44% for the premier homebuyer solution. The lowest ten-year rate offered by Abbey has been cut to 5.99%, while ten-year fixed homebuyer and remortgage solution products have been cut to 6.24%. Sue Hayes, director of mortgages at Abb...