AfI launches broker exclusive 90% two-year fixed-rate
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Abbey for Intermediaries is to launch a broker-exclusive two-year fixed-rate mortgage with a loan-to-value of up to 90 per cent.
The mortgage will be available from April 23, with an interest rate of 6.75 per cent and a £495 booking fee.
An Abbey for Intermediaries spokesman says: “This product represents another step in our commitment to offering higher LTV products in the intermediary market. We now offer a range of competitive mortgages at 80 per cent LTV and above and expect to further develop our higher LTV offering in the future.”
London & Country head of communications David Hollingworth says although the rate may not be very attractive, the fact Abbey is putting higher LTV products through brokers is positive.
He says: “I think it is great that they are looking to put some higher LTV products out into the broker marketplace - that has got to be welcomed.
“Perhaps some of the shine has been taken off by how high the rate is. But when they get a feel for the demand, they might do some rate chopping.”
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Readers' comments (3)
Steven | 23 Apr 2010 10:05 am
I wonder if this is another bid to make Abbey look good but offering a duel priced product far superior direct. Cynical I know but hardly surprising given recent lender behaviors.
I will be keen to see direct propositions by comparison.
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Roddy Piper | 23 Apr 2010 11:31 am
Steven. They haven't got a 2 year deal direct but do have a 3 year deal on the same terms fixed at 5.99%
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Roddy Piper | 23 Apr 2010 11:32 am
I stand corrected - the direct deal is fee free.
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