New lender, Abacus says &#39you can count on us&#39

The mortgage industry will see the launch of its latest branded lender next week with the launch of the firm Abacus Permanent.

Abacus, which will initially be funded by Bristol & West and Preferred Mortgages, will unveil a product range including full status, self-certification, buy-to-let, right-to-buy and adverse credit at the Mortgage Business Expo 2002, at London&#39s Olympia centre. The lender has been established as an independent company by Mortgage 2000 chief executive Simon Nixon and directors of M2000 and moneysupermarket.com.

Sean Hornsby, sales and marketing director of Mortgage 2000, says “We have looked carefully at what is available in today&#39s market and believe we can offer a formula that intermediaries will find beneficial. It&#39s a combination of competitive products, up-to-date technology, personal service and, of course, reward. We understand what is important to intermediaries and have built the Abacus model to meet these needs.”

Says Marc Turner, head of sales for Abacus, “My experience of dealing with lenders has enabled me to identify many of the shortcomings and we have overcome these at Abacus. We understand that intermediaries rate clear communication and effective processing as highly as market-leading products and generous procuration fees.”

Mark Johnson, Bristol & West sales manager, says: “We have been considering a branded lending proposition for some time and Abacus Permanent provides the ideal entry for Bristol & West Mortgages into this market.”

Intermediaries will be able to track cases online throughout the whole application process, in addition to having direct access to its team of underwriters.