View more on these topics

Abbey brings back range of flexible mortgages

Abbey is reintroducing its flexible plus mortgage range after having to suspend the products in the run-up to M-Day.

The four basic products within the range start at a 4.24 per cent variable rate tracker reverting to base rate plus 0.75 per cent.

The products were taken off the market as the changes required for mortgage regulation were too far-reaching for the company.

Abbey says it focused its efforts on its core mortgage range to ensure that intermediaries could access accurate KFIs.

Abbey says it had always planned to issue a restricted loan range after October 31 and phase in the rest of the plans.

Media relations manager Christine McAllister says: “I think the short delay in making flexible mortgages available after M-Day underlines our commitment to our intermediaries with compliant and accurate KFIs.”

Mortgageforce managing director Rob Clifford says: “We analysed take-up on general mortgages eight months ago and had a staggering 25 per cent of flexible mortgage cases going through Abbey.

“Given Abbey’s brand and range of products, it is inev-itable that we welcome them back but in an overcrowded market, we would have been able to go elsewhere.”

Recommended

Financial firms are failing on fairness

Financial services companies are failing to meet the FSA’s requirements for Treating Customers Fairly according to the latest research from consultancy PricewaterhouseCoopers.

Fifth fall for property prices

House prices have fallen for the fifth time in a row, says Hometrack’s survey for November. Prices fell by 0.6 per cent for the second consecutive month. Registered buyers fell by 6.1 per cent.

Finding value in UK equities

By Mark Martin, Investment Director & Head of UK Equities Register for a live update on 9 July at 14.30 with Mark Martin, who will be discussing Chancellor George Osborne’s ‘emergency’ summer budget, the UK equity landscape post May’s General Election and his outlook for the second half of 2015. Mark will also highlight the […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment