New buy to let remortgages from Abbey

Abbey for Intermediaries have added some new buy to let remortgages to their range and have announced plans to cut existing mortgage rates by 0.20 per cent.

Following their entrance into the buy to let remortgages sector, Abbey for Intermediaries plans to launch new tracker and fixed rate products for both purchase and remortgage. New buy to let products include a 2 year fixed rate mortgage at 3.39 per cent with a 2.5 per cent fee, available up to 60 per cent LTV.

Abbey will also launch a new 2 year tracker mortgage with a rate of 2.99 per cent for up to 60 per cent LTV, the product will come with a 2.5 per cent fee and will be available for both purchase and remortgage. Other products include a 2 year tracker with a rate of around 3.5 per cent for up to 60 per cent LTV, there will be a £1495 fee and the deal will be available for purchase only.

Miguel Sard, managing director of Abbey for Intermediaries, said: “We continue to see strong rental demand in today’s housing market and we expect these intermediary exclusives to be very well received by intermediaries and their clients alike.”

Rate reductions include 0.20 per cent off their 2 year fixed rate mortgage deals for 60 per cent LTV. All purchase products will come with the Homebuyer Solution which offers borrowers the added benefit of a free basic mortgage valuation and £250 cashback on completion. Abbey for Intermediaries’ long-anticipated re-entry into buy to let remortgages market has been welcomed by the sector.