Abbey to enter B2L in next few weeks
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Abbey for Intermediaries has confirmed that it is entering the buy-to-let market in the next few weeks.
A spokeswoman for Abbey says: “We are pleased to confirm we will be entering the non-professional sector of the buy-to-let market shortly. We expect this to be in the next few weeks.”
Mortgage Strategy was the first to reveal back in November 2010 that Abbey had its eye on the buy-to-let sector. And in October Mortgage Strategy reported that Abbey was believed to be planning to enter the buy-to-let market before the end of the year. Abbey pulled out of the buy-to-let market back in early 2008.
In a recent interview in Mortgage Strategy with Abbey’s managing director Miguel Sard he said the hold up in it re-entering the sector was a result of it wanting to develop the right systems and processes, in line with those it already has on its residential range.
He said: “So we prefer to prepare and once we are ready, we will launch. We will not wait forever - right now we are closer than last week but we don’t have a date. The day we have a date I will be more than happy to communicate it to everyone.”
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