FTAdviser.com

Advertising

The overhaul, which is effective from 10pm tomorrow (8 April), includes changes to the lender’s offset, buy-to-let and Premier Homebuyer ranges, while rates have increased by as much as 0.37 per cent for fixed and tracker rate products.

Abbey’s fixed rates have been increased by between 0.11 per cent and 0.37 per cent, while its tracker rates have increased by 0.35 per cent to 6.49 per cent for a 90 per cent LTV mortgage.

Its buy to let range has also been reduced, to only include two year fixed rate and two year tracker products.

Meanwhile, Abbey's the Premier Homebuyer solution, which offered valuation and legal work for people buying and selling, has been withdrawn.

Abbey said the withdrawal of its 100 per cent product was a normal approach given the current market conditions and is in line with recent moves by other lenders.

Future Mortgages also reduced the LTV on its entire mortgage range, while the Chelsea Building Society cut the LTV on its Prospect product range earlier today (7 April).

Abbey's current range will be withdrawn at 10pm tomorrow ( Tuesday 8 April) with the new range available on Wednesday (9 April).