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Abbey slashes buy-to-let rates by up to 1.04%

Abbey for Intermediaries has launched a new two-year fix at 2.79 per cent and cut its buy-to-let rates by up to 1.04 per cent and its residential mortgage rates by up to 0.75 per cent.

The two-year fix is a key account exclusive and is available for a £995 fee up to 60 per cent LTV. The maximum loan size is £1m.

AFI has also launched a 90 per cent LTV two-year fixed rate at 5.69 per cent, available for a £495 fee. The product comes with the lender’s homebuy solution, which offers borrowers a free standard mortgage valuation and £250 cash back on completion.

AFI has cut a buy-to-let two-year fix at 75 per cent LTV for purchasers and remortgagers by 1.04 per cent to 4.15 per cent and a buy-to-let two-year fix at 60 per cent LTV for purchasers by 0.60 per cent to 3.69 per cent.

The cuts to its residential range include a 0.75 per cent cut to its loyalty two-year fix for eligible remortgagers at 70 per cent LTV to 3.29 per cent. There is no fee and it comes with AFI’s remortgage solution. AFI has also cut its three-year fix for homebuyers at 70 per cent LTV reduced by 0.35 per cent to 3.09 per cent with a 2.5 per cent fee.

AFI has launched a two-year fix at 4.19 per cent with a £995 fee, available to both homebuyers and remortgagers with the Homebuyer or Remortgage Solution respectively.

Managing director Miguel Sard says: “We are pleased to support intermediaries and borrowers with significant rate reductions across our range and the launch of a number of fantastic new deals. Our new key account exclusive, offering a market leading rate of 2.79 per cent, is available for more than 95 per cent of the intermediary market to access and we are delighted to offer this great rate as an intermediary channel exclusive.

“With rates coming down across our residential and buy-to-let ranges, and the same great rates now available to both purchase and remortgage customers across our new business range, we expect to see strong demand from intermediaries and their clients for these highly competitive new deals.”

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  • John Smith 7th September 2012 at 4:05 pm

    I think Anonymous | 7 Sep 2012 12:54 pm is talking about the btl criteria, its employed only

  • James 7th September 2012 at 3:42 pm

    They will accept self employed for residential, not BTL. Our BDM advised that the reason they don’t accept self-employed is because they only want a certain amount of business coming from BTL, and if they did offer to self-employed it would open the flood gates and they wouldn’t be able to sustain rates like they have. I appreciate not every case is going to fit, but whatever cases do fit I am going to place, as some products are around 1% cheaper than TMW, and their service is great at the moment.

  • djonina 7th September 2012 at 2:41 pm

    not true Anonymous | 7 Sep 2012 12:54 pm, I would double check Abbey’s criteria if I was you.

  • Mark Stroud 7th September 2012 at 12:54 pm

    Great but you still won’t accept applications from the self employed regardless of their income or number of years trading, why?

  • James 7th September 2012 at 11:54 am

    Looks like someone is hungry to lend! Some cracking products here, let’s hope this continues. I’ve been looking for a reason to use the Abbey.