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Home > Mortgages > Mortgage Products

AFI launches new deals and cuts rates

Intermediary lender introduced new mortgage range at 80 per cent LTV, “in response to demand from intermediaries and their clients”.

By Donia O'Loughlin | Published Sep 07, 2012 | comments

Abbey for Intermediaries has launched a two-year fixed mortgage with a rate of 2.79 per cent and has reduced rates by up to 1.04 per cent on is buy-to-let range and 0.75 per cent on its residential range.

The two-year fix is a Key Account exclusive and available to over 95 per cent of the intermediary market. With a rate of 2.79 per cent and a £995 fee, it is available to both homebuyers and remortgagers at up to 60 per cent loan to value. It has a maximum loan size of £1m.

AFI has also launched a two-year fix at 90 per cent LTV with a rate of 5.69 per cent and a £495 fee. The product comes with the Homebuyer Solution, which offers borrowers a free standard mortgage valuation and £250 cashback on completion.

Reductions of up to 1.04 per cent on AFI’s buy-to-let range mean that a new five-year fix has a rate of 4.49 per cent and a £1,495 fee, which is available up to 60 per cent LTV.

Across all of AFI’s residential range, rate cuts of up to 0.75 per cent mean that the same rates are now available to both purchase and remortgage customers on all new business.

The intermediary lender has also introduced a new LTV range at 80 per cent LTV, in response to demand from intermediaries and their clients.

It has launched a two-year fix at 4.19 per cent with a £995 fee, available to both homebuyers and remortgagers with the Homebuyer or Remortgage Solution respectively. The Remortgage Solution offers a free standard mortgage valuation, and either free legals or £250 cashback on completion.

On its Key Account exclusive range, AFI has also increased the maximum loan size to £1m on its three and five-year fixed rate deals.

Miguel Sard, managing director of Abbey for Intermediaries, said: “Our new Key Account exclusive, offering a market leading rate of 2.79 per cent, is available for more than 95 per cent of the intermediary market to access and we are delighted to offer this great rate as an intermediary channel exclusive.

“With rates coming down across our residential and buy-to-let ranges, and the same great rates now available to both purchase and remortgage customers across our new business range, we expect to see strong demand from intermediaries and their clients for these highly competitive new deals.”

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