Abbey for Intermediaries (AFI) is also reducing the rate on its four-year fix for first-time buyers by 0.10 per cent to 5.74 per cent. The product is available up to 85 per cent LTV and has a fee of £495. It comes with a free valuation and also offers £250 cashback on completion.
Alliance & Leicester Intermediary Sales is also launching the following range of highly competitive fixed rates:
Three-year fix:
A market-leading three-year fix at 5.69 per cent with a fee of 1 per cent, available up to 85 per cent LTV to homebuyers. The product comes with a free valuation and has a maximum advance of £250,000.
Four-year fix:
A four-year fix at 5.79 per cent with a fee of 1 per cent, available up to 85 per cent LTV to homebuyers and remortgagers. Both homebuyers and remortgagers receive a free valuation and remortgage customers can also take advantage of our Mortgage Transfer Service or £200 cashback offer. The maximum advance available is £550,000.
Five-year fix:
A five-year fix at 4.79 per cent with a fee of £995, available up to 75 per cent LTV to homebuyers and remortgagers. Both homebuyers and remortgagers receive a free valuation and remortgage customers can also take advantage of our Mortgage Transfer Service or £200 cashback offer. The maximum advance available is £550,000.
In addition, Alliance & Leicester Intermediary Sales will offer a free valuation from Wednesday to homebuyers who take out our two-year fix at 3.64 per cent (available up to 65 per cent LTV) or two-year fix at 3.89 per cent (available up to 75 per cent LTV), both of which have a fee of £995.
Ricky Okey, Managing Director of Intermediary Distribution for Alliance & Leicester and Abbey, said: “Our new fee-free first-time buyer mortgage, available through Alliance & Leicester Intermediary Sales, is designed to meet the needs of first-time buyers in today’s difficult market conditions by offering the security of a competitive longer-term fix and removing some of the additional costs involved in buying a home. As well as reducing the rate on the four-year fix for first-time buyers that we offer through Abbey for Intermediaries, we have also launched new fixed rate deals up to 85 per cent LTV to help meet the needs of borrowers looking to take out a competitive mortgage at a higher LTV.”
