Abbey and Alliance & Leicester slash mortgage rates

Abbey and Alliance and Leicester who are both owned by Spanish bank Santander have cut all its mortgage rates on all home loans that have a 60 or 75 percent loan-to-value and fixed deal mortgage products from October 31.

Abbey said the move will put the lender will give it the number one spot on the best buy tables for all two, three and five year fixed rate mortgage deals for home loans at 75 percent or less Loan-to-value (LTV).

Director of Abbey Mortgages, Nici Audhlam Gardiner said that the mortgage business is gone from strength to strength despite the challenging market conditions as seen in the results published earlier this week.

Both Abbey and A&L will be cutting rates on all the two, three and five year fixed rates deals by up to 0.35 percent.

Source: failinvestment