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AFI cuts rates and launches new 90pc loans

Nia Williams

January 11, 2013

The lender has cut rates by up to 0.40% and the reductions include the following:

• Five-year fix at 70% LTV reduced by 0.40% to 3.09% with a £995 fee, available to homebuyers and remortgagers;

• Five-year fix at 75% LTV reduced by 0.30% to 3.69% with a £995 fee, available to homebuyers and remortgagers;

• Two-year fix at 70% LTV reduced by 0.20% to 2.59% with a £995 fee, available to homebuyers and remortgagers;

• Two-year fix at 75% LTV reduced by 0.20% to 3.19% with a £995 fee, available to homebuyers and remortgagers;

• Two-year fix at 80% LTV reduced by 0.20% to 3.49% with a £995 fee, available to homebuyers and remortgagers;

• Two-year tracker at 70% LTV reduced by 0.20% to 2.79% (BBR + 2.29%) with a £995 fee, available to homebuyers and remortgagers;

• Two-year fix at 85% LTV reduced by 0.10% to 4.09% with a £995 fee, available to homebuyers and remortgagers; and

• Two-year tracker at 75% LTV reduced by 0.10% to 3.39% (BBR + 2.89%) with a £995 fee, available to homebuyers and remortgagers.

It has also launched three new deals at 90% LTV:

• Two-year fix with a rate of 4.49% and a £495 fee, available exclusively to first-time buyers;

• Two-year fix with a rate of 4.49% and a £995 fee, available to homebuyers; and

• Three-year fix with a rate of 4.69% and a £495 fee, available exclusively to first-time buyers.

All of these products come with either the Homebuyer or Remortgage Solution respectively. The Homebuyer Solution offers borrowers the added benefits of a free standard mortgage valuation and £250 cashback on completion, while the Remortgage Solution offers a free standard mortgage valuation, and either free legals or £250 cashback on completion.

In addition, AFI has reduced rates on its range of NewBuy products by 0.10%. The deals remain available exclusively through the intermediary market to intermediaries with established ties to selected developers:

• Three-year fix at 4.69% with a £99 fee, comes with the Homebuyer Solution

• Seven-year fix at 5.19% with a £99 fee, comes with the Homebuyer Solution.

Miguel Sard, managing director of Abbey for Intermediaries, said: “We are delighted to support the intermediary market with extensive rate reductions across our range.

“In addition to cutting rates by up to 0.40%, we’ve launched new best-buy deals at 90% LTV and reduced rates on our NewBuy products to support first-time buyers and homebuyers with a higher LTV.

“With many consumers focused on their finances in the New Year, these fantastic new deals provide intermediaries with a great opportunity to help meet the needs of their clients, whether they are buying a new home or looking for a competitive remortgage deal to reduce their monthly repayments.”


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