View more on these topics

Abbey unveils fee-free deals to build loyalty among clients moving home

Abbey for Intermediaries has launched a range of fee-free fixed and tracker rates for borrowers looking to remortgage with the lender when moving home.

The Loyal Mover scheme allows clients with less than six months remaining on their product to transfer to any deal from its new range with no early repayment charges, as long as they borrow at least the same as their existing mortgage balance.

The range includes a two-year 75% LTV tracker product at 2.99% with no booking fee. It also features a two-year 75% LTV fixed rate at 4.24% with no booking fee.

Adrian Whittaker, key accounts director at Abbey, says: “We are one of the only lenders to offer this sort of range.

“We are keen to remind our customers that loyalty can bring benefits when moving home. Our proposition is based on the idea that buyers don’t have to move lenders to get the best mortgage deals.”

Danny Lovey, proprietor of The Mortgage Practitioner, says: “A lot of lenders are focussing on client retention at the moment.

“Some are already pretty flexible when it comes to borrowers looking to remortgage and it’s good that Abbey is also doing this.”


Jon Moulton buys a stake in large loans brokerage

Jon Moulton, founder of Alchemy Partners and chairman of Better Capital, and two other UK entrepreneurs have taken a big stake in Moulton, along with Neil Redcliffe, group managing director of Currencies Direct, and Alan Burgess, managing director of Masterframe Windows, have invested an undisclosed sum in the brokerage. Redcliffe and Burgess will also […]


60 Seconds with…Jason Berry

What does Safe&Secure do? Safe&Secure is a master broker for general insurance. Our unique selling point is that we use our Derby call centre to sell and process buildings and contents cases on behalf of brokers. Importantly, as we only have Financial Services Authority permissions for GI we do not cross-sell to brokers’ clients. How […]

Repossessions in sub-prime RMBS lowest since 2005

Repossessions in UK sub-prime residential mortgage-backed securities declined to 1.48% of the out-standing balance in February 2010, a level last recorded in August 2005, according to Moody’s Investors Service. Arrears in the month also fell to 19.2% from a peak of 21% in June 2009. Most series recorded falling arrears but those in transactions issued […]


Societies aren’t on the political radar

With the general election looming, where is the financial services industry in the political landscape? For months we’ve been waiting for answers to questions such as – how are you going to ensure the economic turmoil of the past couple of years never happens again? How are you going to build an effective regulatory system? […]

Canada Life annual IHT survey results

75% of wealthy unaware of new residence nil rate band IHT allowance Just 4% were aware the new allowance will be up to £175,000 per individual Lack of awareness of IHT rules means families risk paying a bigger bill than they need 83% think the current inheritance tax rules are far too complex A remarkable […]


News and expert analysis straight to your inbox

Sign up