Abbey cuts tracker mortgage rates.
Abbey for Intermediaries has announced its tracker mortgage rates have been cut. Its decision to reduce costs is to attract new customers hit by rising SVRs.
A 2 year fixed rate for 85% loan to value is now available from Abbey at 4.09%.
Currently tracker mortgages are considered a good option if you are not averse to a little risk, the latest interest rate predictions are for the base rate to be cut to 0.25% by February next year. Whether this will come to pass cannot be known at present, however the base rate is currently 0.5% which is historically low.
It is forecast that tracker mortgage-holders will stand to gain for several more years to come as the base rate is not predicted to rise until November 2016, when it could be reset to 0.75%.
While the BoE base rate remains low home-owners with a tracker could benefit. However trackers are not for everyone.
Those who are averse to taking a risk with their finances should contact Deal Direct for a comparison of lenders fixed rate offers. We will find you a deal offering security and peace of mind. Alternatively if you are will to accept a level of risk, we will compare Abbey's 2 year fix against the wider market to find the cheapest tracker deal.
For the most competitive mortgage, whether tracker or fixed contact Deal Direct.
Call an adviser today for advice and a quote.
