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Abbey withdraws buy-to-let products

Abbey has withdrawn its buy-to-let products temporarily in order to focus on its residential mortgage business.

The lender also announced that it is repricing many of its deals from 10pm tonight.

It is reducing its tracker range to a single product – a 2 year tracker to 75 per cent LTV, 6.12 per cent with a £999 fee.

The lender has also launched a new 75 per cent loan to value range but is still offering core 90 per cent and 95 per cent LTV products.

An Abbey spokesperson says: “Abbey’s new range includes a 75% LTV range which rewards customers with 25% or more equity in their property with lower rates. This gives customers and brokers access to rates that are up to 0.25% lower than in our previous range. We still offer loans of up to 90% and 95% LTV.

“The changes reflect the continuing market conditions, recent competitor moves and our commitment to maintain service levels. They are in line with the rest of the industry and we will continue to monitor the market.”


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