Abbey for Intermediaries (AFI) will tomorrow (11 January) reduce rates by up to 0.40 percentage points across its residential and NewBuy range, and will also launch three new best-buy deals at 90% LTV.
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
- 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
- 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.”
