Mortgage News
Abbey begins to ramp up BTL offering
Abbey for Intermediaries (AFI) has boosted its buy-to-let range with the launch of four new loans and rate cuts of up to 0.20% on existing products.
The lender, which launched into buy-to-let in December, will offer the deals from tomorrow.
The products include a two-year fix at 3.39% with a 2.5% fee available up to 60% LTV for buyers and remortgagors, alongside a two-year tracker at 2.99% with a 2.5% fee, available up to 60% LTV to buyers and remortgagors.
It is also launching a two-year tracker at 3.49% with a £1,495 fee, available up to 60% LTV to purchasers and remortgagors and a two-year tracker with a rate of 4.09% and a £1,495 fee, available up to 75% LTV to purchasers and remortgagors.
Miguel Sard, managing director of Abbey for Intermediaries, said: “We continue to see strong rental demand in today’s housing market and we expect these intermediary exclusives to be very well received by intermediaries and their clients alike.”
Accord is offering a 3.89% two-year tracker with a flat fee of £800, said David Whittaker, managing director, Mortgages for Business.
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“So this puts Abbey into the Hustings, although it doesn’t float my boat,” he added.
“However, here we are in the second week of January and on the buy-to-let product side, things are already being moved around like a drafts board. The focus for 2012 already feels very much like it’s on buy-to-let.”