Abbey offers two-year 3.65% fix for advisers only
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Abbey is introducing a two-year fixed-rate mortgage of 3.65 per cent available only through intermediaries in a move that advisers are hailing as a return to decent broker products.
The product offers up to 70 per cent loan to value with a £995 booking fee and is only available to Abbey’s existing bank account customers. Abbey for Intermediaries says it estimates over 90 per cent of the broker market will be able to access these products.
John Charcol senior technical manager Ray Boulger says: “It is certainly an indication that the era of dual-pricing to the disadvantage of the broker is getting less of a problem.”
Boulger believes this has been partly prompted by Nor-thern Rock coming back into the intermediary market, having said it is aiming to lend up to £10bn next year, with virtually all of it likely to come through brokers. He says: “The current account is key from the lender’s perspective because they get a clearer picture of what the customer is like. They have got a lot more information so they should be able to underwrite the case more easily.”
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