These products include prime, sub prime, self-cert, flexible self-cert and buy-to-let. Procuration fees are highly competitive across all products - the conforming prime range is set at 0.4%, conforming self-cert and buy-to-let are 0.6% and non-conforming are 1.25%. All conforming self-cert and buy-to-let products go up to 85% LTV with no discrimination between employed and self-employed borrowers.
Products introduced in the conforming range include a flexible true self-cert lifetime tracker at 4.5% (Bank of England base rate + 1% for the lifetime of the loan), with no overhangs and no redemption penalties; plus two buy-to-let trackers - a two year and a five year - both at 4.4% (Bank of England base rate + 0.9% for two and five years respectively) with a competitive rental assessment. Two competitive products also introduced in the range are a two year buy-to-let tracker at 3.99%, with procuration fees set at 0.6% (with a one year overhang) and a five year self cert, tracking at 4.35%. 0.5% cashback is payable on completion.
Marc Turner, head of sales at Abacus Permanent, commented: "Nearly one year since launch and Abacus has established and developed strong relationships with funding lenders, clubs, networks and intermediaries. With these new conforming and non-conforming products we now have a vast and comprehensive product range with competitive borrowing rates and procuration fees. We are therefore confident that these products will be well received by the market and help intermediaries offer more options for their clients' mortgage requirements."
Abacus will also give one free mortgage lead for every mortgage application received, available across the entire product range. The free lead will be generated from the area in which the intermediary's business is located. In addition, Abacus will also refund all valuation fees on completion of the mortgage resulting in free valuation for all mortgages that complete.
Intermediaries can call 0845 330 4128 for more information or visit the Abacus Permanent website at www.abacuspermanent.com
