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Abbey eyes buy-to-let market

by: Mortgage Solutions
  • 18/11/2010
  • 0
Abbey eyes buy-to-let market
Abbey for Intermediaries (AFI) boss Alan Mathewson has confirmed the lender is readying to launch into the smaller landlord buy-to-let market next year.

Mathewson, managing director of Abbey for Intermediaries, said: “We constantly review all areas of the market and one area we are taking a close look at for next year is the buy-to-let market, specifically the non-professional landlord sector, those landlords who may have just a couple of buy-to-let properties.”

He said the conditions with low interest rates, high yields, and a strong demand for rental property are appealing.

The lender is also set to slash rates by up to 0.20 on its fixed and tracker rates tomorrow.

In one example, its two-year fixed rate has been reduced by 0.14% to 3.55% offered at 75% for remortgagors.

All the lower rate products come with either the Homebuyer or Remortgage Solution respectively, which offers a free basic mortgage valuation and £250 cashback on completion, or free legals to remortgagors.

 

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