Abbey cuts rates

Nia Williams

February 9, 2010

From tomorrow, Afi is launching a key account, 75% LTV, two year tracker mortgage at 2.85% with a £995 booking fee.

The new product is available to both homebuyers and remortgage customers and is aimed at ensuring that intermediaries continue to have exclusive access to competitive products.

In addition, Abbey for Intermediaries is also reducing the rate on its 70% LTV, five year fixed rate products by up to 0.25% to 4.99%.

Other changes to the mortgage range include a cut in the three year tracker mortgage range:

* 70% LTV Homebuyer mortgage at 2.54% with a £995 fee

* 70% LTV Remortgage product at 2.59% with a £995 fee

* 75% LTV Homebuyer mortgage at 3.09% with no booking fee

* 75% LTV Remortgage product at 3.14% with no booking fee

Ricky Okey, managing director at Abbey for Intermediaries, said: “All our key account exclusive products are available to almost 90% of mortgage intermediaries and offers us a great channel through which we can deliver competitive broker only deals. Meanwhile we continue to cut rates on both fixed and tracker mortgages to ensure that our intermediary product range remains market leading.”

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