Abbey slices 0.6% off of 85% LTV deals

Abbey for Intermediaries is slashing its 85% LTV range by 0.6% and fees by up to £1000 from Monday September 15.

The lender is also rolling out five deals – available for up to £550,000 – as part of its core range.

Abbey is also cutting rates on its 70% and 75% LTV ranges by up to 0.1%.

70% LTV deals now start from 5.54% with £1,495 fee for a two-year fix up to £250,000 while 75% LTV deals up to £550,000 start at 5.74% with £995 fee for a two-year fixed rate.

Abbey is also introducing at three-year fixed rate broker exclusive at 60% LTV. This deal is 5.64% with £995 fee.

In addition, Abbey is removing the £150 upfront element of the booking fee.

The policy of part-upfront payment was introduced in the summer to secure the rate given volatile market conditions however swap rates have fallen substantially since then and it is no longer require part upfront payment.

The whole booking fee can be paid on completion or added to the loan.

Ricky Okey, managing director of AfI, says: “The new higher LTV deals and changes to the booking fee, along with our highly competitive range of core products, will make it easier for brokers to choose Abbey for their clients’ mortgage needs.”