AFI to slash rates by 1pc

Yuan Phoon

September 5, 2011

The new products include a 3.85%, 3-year fix at 75% loan to value with no fees.

Also included in the launch is a 3.59% 4-year fix at 70% LTV with a £995 fee, a 5-year fix at 70% LTV at 3.79% with a £995 fee, and a 5-year fix at 90% LTV available exclusively for first-time buyers at 5.99% with a £495 fee.

Rates have also been cut on a large number of products across AFI’s range including a 1.00% cut on a 5-year fix at 75% LTV, now 3.99% with a £995 fee.

Miguel Sard, managing director at Abbey for Intermediaries, said: “We are pleased to continue our support of intermediaries and their clients with our new range of competitive 3-year, 4-year and 5-year products plus extensive reductions on over 40 products across our range.

“In particular, a number of products from our 5-year product range have been cut by up to 1% providing an extremely competitive option for those homeowners seeking longer-term security.”

Sard added: “First-time buyers, movers and remortgagers alike will be able to take advantage of these great products and we expect there to be very strong demand from borrowers over the coming weeks.

“These products signify our continued commitment to supporting the intermediary market with great products and service.”

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