Abbey launches broker-only mortgage range
Abbey for Intermediaries has launched a broker-only mortgage range with no legal or valuation costs attached.
According to the lender, the new deal is the first of its kind to be offered to brokers and could save customers up £1,650 in upfront costs.
The Homebuyer Plus range includes a two-year tracker at 3.29% for a maximum loan-to-value (LTV) ratio of 75%; a two-year fixed rate at 3.99% for 70% LTV and a three-year fix at 5.99% for 85% LTV.
Abbey for Intermediaries and Alliance & Leicester Intermediaries sales managing director, Ricky Okey, says: “This is the only product of its kind to be offered in the intermediary market.”
He adds: “As it is exclusive to brokers, it not only offers customers a massive saving in up front fees, but also offers brokers the competitive advantage that they have been asking for.”
In related news, recent research from professional advice website, Unbiased.co.uk, shows a sharp rise in the number of potential first-time buyers seeking whole of market advice.
Enquiry levels fell back slightly in the early summer but have since rebounded, with Unbiased chief executive, David Elms, explaining that many potential first-time buyers remain “baffled” by today’s mortgage market.