Newly launched lender Abacus Permanent has launched its first product range covering self-cert, buy-to-let and full status mortgages.
Abacus, launched last month by Mortgage 2000 with funding from Bristol & West and Preferred Mortgages, offers three self-cert, three buy-to-let, five full status cashback products and a three-year prime stepped discount.
These initial launch products have no overhanging redemption penalties and offer market-leading rates and highly competitive procuration fees. First-time buyers will be attracted by the 5% cashback products, available up to 95%, with a choice of a three or five-year discount.
Marc Turner, head of sales at Abacus, says: “As promised at our launch, we now have the first tranch of a great new range of very competitive products to offer intermediaries. We have specifically looked at offering good value products without the sting of extended redemption periods.
“Not only will intermediaries find these products easy to sell, they will also welcome the competitive level of procuration fees that Abacus is paying. Initial enquiries and feedback from intermediaries has been very positive.”
Intermediaries using Abacus will be able to track their cases online throughout the whole application process and Abacus can also provide guaranteed decisions through direct access to its underwriters.
To supplement the current range, Abacus has plans for a full range of adverse products scheduled for launch mid-December.