Abbey reassesses affordability as interest rates plummet

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Abbey reassesses affordability as interest rates plummet

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12-17-2008, 03:24 PM

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Abbey reassesses affordability as interest rates plummet

Abbey has changed its affordability calculations to take into account falling interest rates.The lender has informed mortgage brokers that from today, it will no longer use its standard variable rate (SRV), which is currently 5.44%, to assess affordability but a new figure of 7%.Abbey’s SVR stood at 7.09% in October, prior to November and December’s [...]

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