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AfI revises mortgage range

Nia Williams

May 27, 2011

It has also increased the maximum LTV on its range of larger loan products from 60% to 70% LTV.

A new two-year fix for remortgagers is now available at 3.39% with a booking fee of £495, available up to 60% LTV. In addition, AFI is also launching a new two-year fix with a rate of 3.19% and a £945 fee, available up to 60% LTV to homebuyers.

The intermediary lender has also launched the following new products:

 New two-year tracker with a rate of 2.29% and a 1.5% fee, available up to 70% LTV to homebuyer and remortgagers

 New two-year tracker with a rate of 2.49% and a £745 fee, available exclusively to remortgagers with a Santander Current Account, up to 70% LTV with a maximum loan size of £1m

 New two-year fix with a rate of 4.89% and a £745 fee, available exclusively to homebuyers with a Santander Current Account, up to 85% LTV

 New three-year fix with a rate of 3.89% and a £495 fee, available up to 70% LTV for Loyal Movers

It has also reduced rates by up to 0.30% on more than 25 products across its range, including:

 Rate reduced by 0.30% on two-year fix at 85% LTV for remortgagers, now 4.99% with a £995 fee

 Rate reduced by 0.30% on three-year fix at 70% LTV for homebuyers and remortgagers, now 3.89% with a £995 fee

 Rate reduced by 0.20% on two-year fix at 85% LTV exclusively for first-time buyers, now 4.79% with a £495 fee

 Rate reduced by 0.20% on two-year fix at 75% LTV for remortgagers, now 3.49% with a reduced fee of £695 – exclusive for Santander Current Account customers only

 Rate reduced by 0.18% on two-year tracker at 70% LTV for homebuyers, now 2.49% with £995 fee

 Rate reduced by 0.10% on two-year fix at 75% LTV for homebuyers and remortgagers, now 3.99% with no fee (previously £99)

 Rate reduced by 0.06% on two-year fix at 75% LTV for homebuyers, now 3.49% with a £995 fee, available exclusively to Key Accounts

All of the above products come with either the Homebuyer or Remortgage Solution respectively. The Homebuyer Solution offers borrowers 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.

AFI has also reduced fees on a number of products, including:

 Fee removed from two-year tracker at 70% LTV for homebuyers, now fee-free with a rate of 2.99%

 Fee reduced by £245 on Flexi Offset mortgage for remortgagers up to 75% LTV, now £1,250 with a rate of 3.49%

 Fee reduced by £104 on two-year fix at 90% LTV for homebuyers, now £495 with a rate of 6.19%

 Fee reduced by £100 on two-year tracker at 90% LTV for homebuyers, now £99 with a rate of 5.79%

Commenting, Miguel Sard, managing director of Abbey for Intermediaries, said: “We are committed to offering great products and service, to help intermediaries find the right mortgage for their client’s needs. These changes are designed to support borrowers across the market, whether they are buying their first home, moving or remortgaging, and we expect them to be well received by both intermediaries and their clients.”


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