The introduction of percentage booking fees as a standard feature on selected mortgages is in direct response to feedback from intermediaries, and demonstrates AFI’s ongoing commitment to meeting the needs of intermediaries following the move to one brand, according to the provider.
The new range of mortgages is as follows:
Two-year tracker at 2.85% with a 0.50% fee, available up to 70% LTV to homebuyers
Two-year tracker at 3.07% with a 0.50% fee, available up to 70% LTV to remortgagers
Two-year fix at 3.45% with a 0.50% fee, available up to 70% LTV to homebuyers
Two-year fix at 3.53% with a 1% fee, available up to 75% LTV to homebuyers
Two-year fix at 3.75% with 0.50% fee, available up to 70% LTV to remortgagers
Two-year fix at 3.83% with a 1% fee, available up to 75% LTV to remortgagers
The products have a minimum loan size of £25,000 and the percentage fee must be added to the mortgage loan in all cases.
All of the new products come with the Homebuyer or Remortgage Solution respectively. The Homebuyer Solution offers borrowers the added benefits of a free basic mortgage valuation and £250 cashback on completion, while the Remortgage Solution offers a free basic mortgage valuation, and either free legals or £250 cashback on completion.
Alan Mathewson, managing director of Abbey for Intermediaries, said: “We know from speaking to intermediaries that percentage fees were one of the features available through the Alliance & Leicester brand that they most valued. We are therefore delighted to support intermediaries with the introduction of percentage fees through Abbey for Intermediaries.
“The launch of this new range of mortgages, available exclusively to the intermediary market, demonstrates our commitment to listening to and meeting the needs of intermediaries, to help us become the lender of choice.”
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