Abbey has risen some fixed-rate mortgages week after announcing rate cuts

Customers of Abbey have been left a little confused as well as betrayed, as the bank owned by Santander have risen some fixed-rate mortgages by up-to 0.44 percent, this follows an increase in borrowing costs. Abbey Customers are not happy as Abbey announced rate cuts just last week, just to try and get more business.

Reuters report that this underhanded tactic has not gone unnoticed; many industry watchers have criticized the move, and have said that it only adds to more confusion in an already volatile mortgage market. Abbey however have hit back saying that they was only responding to the dramatic increase in interest rate swaps last week, the company were holding out for a further rate cut, but the Bank of England dashed their hopes on a bearish prognosis on the future of the British Economy.