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Struggling mortgage holders `should seek advice` Remortgage enquiries `rise in June` Mortgage approvals `up in June` UK mortgage market remains weak, CML says Consumers `should avoid lying on mortgage applications` BoE releases Trends in Lending report Brits `prioritising debt repayment` "Sensible lending" needs to be restored for home buying Many households `to miss mortgage payments` Homeowners `increasingly paying off mortgage debt` Booklet produced for those facing mortgage repayment problems Local authority defends decision to offer 100% mortgages Mortgage lending levels `still low` CML welcomes campaign on repossessions Consumers `increasingly offsetting savings against mortgages` Banks `should be encouraged to provide more mortgages` Younger and richer people `benefiting more from mortgage reductions` Bank of England cuts base rate Negative equity `concerning UK mortgage holders` Interest rate cuts `were not anticipated by consumers`

Further mortgage rate cuts announced

15/09/2008

In potentially positive news for consumers struggling with debt, further mortgage rate cuts have been announced by one high street lender.

Abbey revealed it is cutting its fixed and variable mortgage rates as of today (September 15th).

Under the terms of the new offer, people with a 15 per cent deposit will see rates reduced by up to 0.6 per cent, while cuts are also being made on the rates of existing offers.

Commenting on the development, Phil Cliff, director of mortgages at Abbey, said: "Fixed-rate interest rates have reduced recently and as the market environment changes, we`re able to pass these benefits to our customers."

Abbey is not the only provider to have announced improved deals recently, with Cheltenham & Gloucester and First Direct also revealing rate reductions on their products.

In other industry news, the number of home loans issued to those remortgaging their properties rose by 14 per cent in July compared to the previous month, figures produced recently by the Council of Mortgage Lenders revealed.

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