Details of the products are as follows: 4.64% two year stepped rate tracker at 0.11% below Bank of England in Year one and 0.49% above in year two, reverts to SVR currently 6.75%, with no extended tie in and included remortgage package.
Network Data will pay 0.25% procuration fee for paper applications and 0.30% for on line applications received that subsequently complete.
George Fleming, Network Data lender relationship manager, says: “We are very pleased to be able to announce the launch of this competitive product with Abbey. We have seen an increasing demand from our brokers for attractive remortgage products and believe this product will help to satisfy their needs.”
Jeff Scott, head of intermediary mortgages at Abbey, says: “We are delighted to be able to offer this exclusive to Network Data. With rising interest rates, this product is particularly appealing for remortgage customers ”