Abbey is to reduce its rates for some mortgages, partly in response to the Bank of England’s liquidity scheme which will inject £50bn into the mortgage market. Financial Times
The UK’s third largest mortgage lender, owned by Santander of Spain, said it would reduce rates on its flexible and tracker mortgages for new customers by 10 basis points from the end of the week. It would also change its rates on fixed-rate mortgages available through brokers and branches.
Two-year fixed-rate deals for borrowers who have a 25% deposit will come down by 11 basis points, although rates on other fixed-rate products at higher loan-to-value ratios are being held or slightly increased.
