The purchase product, which has a fee of £995 and a maximum loan size of £550,000, offers a free basic mortgage valuation and £250 cash back on completion.

The product is available through 18 distributors, so accessible to 90% of the intermediary market, said AFI.

The intermediary lender will also reduce rates by up to 0.25% across a selection of its 80% LTV products.

The new rates include a two-year fix for homebuyers at 4.70%, which also offers a free basic valuation and £250 cash back and a two-year fix for remortgagers at 4.75%, which also comes with a valuation and either basic legal costs or £250 cash back.

AFI will also be reducing rates on its two-year tracker offering at 80% LTV by up to 0.19%. The new rates include a two-year tracker for homebuyers at 3.75% and a two-year tracker for remortgagers at 3.80%. The products also come with the Homebuyer and Remortgage Solutions respectively.

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Adrian Whittaker, key accounts director at Abbey for Intermediaries, said: “These latest changes to our range demonstrate our ongoing commitment to offering highly competitive products through the intermediary market.

“By reducing rates at 80% LTV and launching a best buy key account exclusive, which is available to over 90% of the intermediary market, we are pleased to support the needs of both intermediaries and their clients.”