Abbey for Intermediaries enhances range

The intermediary lender has launched a two-year fix at 3.59% with a reduced booking fee of £745, available exclusively to homebuyers with a Santander Current Account who are looking to borrow up to 70% LTV.

AFI has also launched three new Key Account exclusives, which will be available to over 95% of the market to access:

  • Two-year fix at 3.59% for homebuyers with a £995 fee, available up to 75% LTV, comes with the Homebuyer Solution
  • Two-year fix at 3.69% for remortgagers with a £995 fee, available up to 75% LTV, comes with the Remortgage Solution
  • Two-year tracker at 2.49% with a £995 fee, available up to 70% LTV to remortgagers, comes with the Remortgage Solution
The Homebuyer Solution offers borrowers a free standard mortgage valuation and £250 cashback on completion, while the Remortgage Solution offers borrowers a free standard mortgage valuation, and either free legals or £250 cashback on completion.

AFI is also increasing the maximum loan size to £1 million on its two-year fixes at 75% LTV, which will allow more homeowners to benefit from these deals.

For borrowers looking to remortgage who want to benefit from today’s low interest rates but retain the flexibility to lock into a fixed rate at a later date, AFI has introduced a new ‘track and fix’ option on all two and three year remortgage tracker products at 60, 70 and 75% LTV, all of which come with the Remortgage Solution.

In addition, AFI will be making two changes to its lending criteria to support borrowers:

  • First-time buyers may now be eligible for AFI’s point of sale verification process (POSV)
  • Regular monthly bonuses, overtime and commission income types can now be used as primary income, as long as they are proven to be regular and consistent through three months’ bank statements or payslips
San Midha, director at Abbey for Intermediaries, said: “We are committed to becoming the intermediary lender of choice and these changes are designed to support intermediaries and their clients by building upon the improvements we’ve already made over the past 12 months.

“We are also pleased to launch a number of new Key Account exclusives to support intermediaries, as well as a highly competitive new two-year fix for Current Account customers.”