Mortgage Lender reverses deals May 28th, 2008

Abbey National has taken the decision to reverse two of the mortgage rate cuts it introduced only two weeks ago. Its new fixed rate deals will show an increase of 0.15% and 0.59% from the end of May. Even then these new deals may not be around for very long as such offers are only made available for a very short period of time, sometimes just a few days.

Potential customers who have a mortgage offer in place are urged not to hang around otherwise it could be withdrawn or revised.

Whilst this move is the latest in a line of increases, due to the credit crunch and subsequent reduced avilability of wholesale funds, there are still decent rates on offer for those of who are deemed lower risk. Customers who have higher deposits, resulting in a lower Loan To Value are still likely to find a good deal.