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.”