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The Santander-owned lender will cut its two- and three-year fixed rates by up to 0.25 per cent and its flexible offset products by up to 0.2 per cent.

Abbey has also cut is three-year tracker mortgages by 0.1 per cent and its five-year fixed low fee product by 0.2 per cent.

The new rates include a two-year fix at 5.89 per cent with a fee of £995. The product is available up to 70 per cent loan-to-value (LTV).

There is also a three-year fixed rate from 5.79 per cent, with a maximum LTV of 70 per cent and a £1,295 fee.

Abbey's flexible offset mortgages now start from 6.23 per cent with a £1,499 fee, while the three-year tracker products will be available from 5.79 per cent with a £1,950 fee.

The fixed rate low loan, low fee mortgages, which are available for borrowing up to £150,000, will now start from 6.04 per cent for three years up to 6.29 per cent with a £549 fee on a five-year fix.

Phil Cliff, director of mortgages for Abbey, said: "These reductions demonstrate our continued effort to offer customers an excellent deal, in particular our flexible offset mortgages, which now start at 6.23 per cent, look very competitive."

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