The deal, which the lender says is the first deal of its kind to be offered to brokers, is estimated to save customers as much as £1,650 in upfront costs as they will not have to pay for a valuation or their legal costs when buying a home.
The new ‘Homebuyer Plus’ product range includes a 3.29 %, two year tracker at 75% LTV, a 3.99% two year fixed-rate at 70% LTV and a 5.99%, three year fixed-rate at 85% LTV.
Ricky Okey, managing director of Abbey for Intermediaries and Alliance and Leicester Intermediaries Sales, said the product offers customers a massive saving in upfront fees and offers brokers the competitive advantage which they have been asking for.
Dev Malle, group sales director at Personal Touch, said it is a significant boost to the market and intermediaries that Abbey have delivered a portfolio of purchase products.
He added: “The Homebuyer Plus range could not have been better timed and a unique free legal package or cashback option for the client purchasing a property will be an important differentiator. Early feedback from our membership has been very positive and it is this type of lender action that will help the market place, the consumer and the intermediary.”
