Abbey cuts rates on high LTV deals

4 December 2009 | By Natalie Thomas

The rate changes include five-year fixed rate deal solely for broker at 6.89%, available up to 90% LTV and with a £995 booking fee, representing a cut of 0.2%.

There is also a two-year fixed rate deal for home buyers at 5.19% up to a maximum LTV of 80% and carrying a £995 booking fee, again a reduction of 0.2%.

Abbey’s two-year tracker has been cut by 0.1% to 4.69%, available up to 85% LTV and with a £995 booking fee.

Abbey has also extended its existing bank account mortgage range to all 21 of its key account partners.

It is estimated that over 90 per cent of the intermediary market will now be able to access the intermediary only, 90% LTV, two-year fixed rate deal with a £495 booking fee at 6.49%.

The product is available to any home buyer customers who have an existing Abbey bank account with one or more active direct debits and a regular minimum deposit of £1,000 a month.

Ricky Okey, managing director of Abbey for Intermediaries, says: “Intermediaries are keen to see more competitive rates in higher LTV products and we are finding it increasingly possible to deliver the good rates they are after.

“This product range should be a positive announcement for the intermediary market, highlighting that strong rates are on their way back in.”

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