Abbey for Intermediaries launches buy-to-let range

Abbey for Intermediaries is to begin offering buy-to-let mortgages from November 13.

The proposition from Abbey will offer intermediaries a maximum LTV of 85% for loans up to 1m per property, plus 120% minimum rental cover.

There is no booking fee, free valuation and 250 cashback available for both purchase and remortgage clients on selected products.

Intermediaries will have direct access to specialist underwriters, and clients will be allowed unlimited number of properties up to a maximum portfolio of 5m.

Ricky Okey, managing director of Abbey for Intermediaries, says: “The trial has been a great success and has proved very popular with the brokers that took part.

We have taken on board their feedback and are launching a competitive set of buy-to-let products and criteria.

Abbey’s entry into the buy-to-let intermediary market is yet another example of our commitment to provide the best products and service to our intermediaries.”

The buy-to-let range includes a two-year tracker at 4.89%, a three-year tracker at 4.99% and a lifetime tracker at 5.64%.

It also offers a three-year fixed rate at 5.14% and a two-year fixed rate at 5.19%.