Abbey to launch 90% LTV deal for brokers

Abbey for Intermediaries is to launch a two-year fixed rate deal at up to 90% LTV, exclusively for brokers.

The deal is available for purchases at 6.75% and comes with a £495 upfront booking fee.

A spokesman for Abbey for Intermediaries says: “This product represents another step in our commitment to offering higher LTV products in the intermediary market.

“We now offer a range of competitive mortgages at 80% LTV and above and expect to further develop our higher LTV offering in the future.”

Aaron Strutt, a broker with Trinity Financial Group, says it is a positive move that 90% LTV deals are being made available to brokers.

He says: “At least Abbey is offering brokers a 90% LTV deal, while other lenders aren’t. The rate isn’t fantastic, but Abbey is actually one of the few lenders making these deals available to brokers, and not just through limited distribution.”

The product will be available from April 23.