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AfI to launch two new products and reduce rates

Abbey for Intermediaries will launch two new products with a £99 booking fee and reduce its rates by up to 0.38 per cent on selected products from tomorrow.

The lender is launching a new two-year fixed rate mortgage with a rate of 4.15 per cent at 75 per cent loan-to-value and a two-year tracker homebuyer product at Bank of England base rate plus 2.55 per cent at 75 per cent LTV.

Across the reduced range, some of the new rates include 3.09 per cent two-year fixed rate mortgage for homebuyers, which has a £995 fee and is available up to 70 per cent. The range also includes a two-year tracker, which now has a rate of base rate plus 2.05 per cent at 70 per cent LTV, and is available for a £1495 fee.

The lender is also withdrawing a selection of tracker and fixed rate products from its range.

Full applications on amended and withdrawn products must be submitted by midnight tonight to secure a booking.

AfI’s parent company, Santander, yesterday announced it is in the process of scrapping its Alliance & Leicester brand, with around 300 A&L branches falling under the Santander banner by the end of November.

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