Abbey cuts rates on high LTV products

Abbey for Intermediaries has reduced fixed and variable rates on some of its high LTV mortgage products.

The rate changes include a five-year fixed, intermediary only, 90% LTV mortgage with a £995 booking fee at 6.89%, down by 0.20% and a two-year fixed homebuyer mortgage, 80% LTV with a £995 booking fee at 5.19%, down by 0.20%.

Abbey is also offering a two-year tracker, 85% LTV mortgage with a £995 booking fee starting from 4.69%, down by 0.10%.

In addition, Abbey have extended its ‘Existing Bank Account’ mortgage range to all 21 of its key account partners. The lender estimates that over 90% of the intermediary market will now be able to access the intermediary only, 90% LTV, two year fixed mortgage, with a £495 booking fee at 6.49%.

The product is available to any homebuyer customers who have an existing Abbey bank account.

Ricky Okey, managing director of Abbey for Intermediaries, said: “Intermediaries are keen to see more competitive rates in higher Loan to Value products and we are finding it increasingly possible to deliver the good rates they are after. This product range should be a positive announcement for the intermediary market