Abbey Mortgage Range Improved

Abbey Mortgages, one of the largest mortgage lenders in the UK, has updated its mortgage range. The five-year rate, as well as several variable tracker products, have benefited.

Abbey's best-buy five-year capped rate is now 4.99 per cent, while a selected range of its variable tracker products have been reduced by 0.05%.

Gary Hockey-Morley, Abbey director of mortgages, stated: "Our new five-year capped rate mortgage offers borrowers longer-term security and a best-buy rate.

"Borrowers on this deal will never pay more than 4.99 per cent, which means that their monthly payments will start low and stay low."

The new Abbey mortgage deals are available as of June 27th 2005.

Abbey fixed-rate, discount, cashback, stepped fixed and flexible mortgages are also still available, in addition to the existing range of tracker and stepped tracker mortgages without benefits package.