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TMA launches Abbey semi-exclusive

The Mortgage Alliance has launched a two-year semi-exclusive tracker mortgage funded by Abbey for Intermediaries.

The product has an initial pay rate of 5.99 per cent and then reverts to a tracker at 0.99 per cent above base rate.

It is available for remortgage customers only with a loan-to-value of up to 60 per cent and a maximum loan size of £550,000.

The product comes with free valuation up to a property value of £2.5m and standard legal fees are paid with no higher lending charges.

The two-year tracker deal has a £499 fee, of which £150 must be paid upfront and the remainder can be added to the loan..

TMA head Phil Whitehouse says: “t remains a tough market out there and at TMA we are working hard on behalf of our members to continue adding value and widening distribution channels.’’


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