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Abbey unveils NewBuy rates

Range includes three-, five- and seven-year fixed rate deals at between 90 per cent and 95 per cent LTV, starting from 5.49 per cent.

By Emma Ann Hughes | Published May 14, 2012 | comments

Abbey for Intermediaries has today (14 May) launched its range of NewBuy mortgages for properties being built by Barratt Homes, Berkeley, Bovis Homes or Persimmon.

Abbey’s NewBuy range includes three, five and seven-year fixed rate deals starting from 5.49 per cent with a fee of £99.

The lender’s NewBuy deals are available between 90 per cent and 95 per cent loan-to-value (LTV).

All products come with the Homebuyer Solution, which includes a free standard mortgage valuation plus £250 cashback on completion.

The three-year fix is set at 5.49 per cent, the five-year deal is at 5.49 per cent and the seven-year fix is 5.99 per cent.

Miguel Sard, managing director of Abbey for Intermediaries, said: “We are delighted to support the government’s NewBuy scheme and the UK housing market with the launch of a range of competitive fixed rate products with low upfront fees.

“The range is designed to meet the needs of both first-time buyers looking to buy their first home and movers with smaller deposits, and is available exclusively though intermediaries who have been nominated by our developer partners.

“We expect there to be strong demand from intermediaries and their clients for these great deals, which also offer the added benefit of our Homebuyer Solution.”

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