Abbey announces mortgages changes - News at Best UK Mortgages - Monday, 27th June 2005

High Street bank Abbey National has announced new changes to its mortgage plans.

Modifications include a new best-buy five-year capped rate of 4.99 per cent and the reduction of several variable tracker products by 0.05 per cent.

The new mortgages are available from June 27th 2005.

Gary Hockey-Morley, Abbey's director of mortgages, said: "Our new five year capped rate mortgage offers borrowers longer-term security and a best-buy rate.

"Borrowers on this deal will never pay more than 4.99%, which means that their monthly payments will start low and stay low."

Abbey also offer fixed, stepped fixed, flexible, discount and cashback mortgages, as well as its existing range of tracker and stepped tracker mortgages without benefits package.