Abbey and Halifax mortgage rates are cut.
Halifax mortgage rates are to be reduced by 0.2%.
The lender is cutting the rate offered on its 3 year fixed rate 90% loan to value deal for new property purchase, and is temporarily withdrawing its 2 year fixed rate at the same loan to value.
Abbey for Intermediaries has also announced a 0.2% rate cut on its 2 year fixed rate products for 60% and 75% LTV, the announced changes also include mortgages in Abbey's loyalty range.
Product withdrawals have also been announced by the lender, its 2 year tracker for 90% loan to value and its 5 year fixed rate for the same loan to value will no longer be available for new purchase.
Mainstream lenders have not reduced their fixed mortgage rates for a while and with these recent announcements it is hoped that other mortgage providers will follow suit.
Abbey for Intermediaries has also launched a new range of products for the NewBuy scheme, both 3 and 5 year fixed rates are offered at 5.49% and a 7 year fixed rate is offered at 5.99% with a £99 product fee.
All NewBuy deals come with the lender's homebuyer solution offering £250 cashback and a free mortgage valuation which is hoped will help those potential buyers with a small deposit.
For competitive mortgage rates contact Deal Direct.
