Abbey has risen some fixed-rate mortgages week after announcing rate cuts on 100 Mortgages

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.

Related Articles

1 Comment
»

i just took out a 3 yr fixed rate in july,,[im on benefit as a carer for my son ]my rate is 6.7 %,,the government have dropped the amount i can claim towards my interest ,,they do not pay anymore than 6.08 as from november ,,i am now struggling to meet the extra £80 per month ,not to mention food anf fuel bills, i cant afford a car,,holiday or xmas this year,,these cuts wont be passed on to me ,,i was advised this would be my best option,,makes me feel like selling up and going somwhere i can afford to live and eat proprly

beans on toast for mi

Comment by annette — November 11, 2008 @ 3:19 pm