Abbey for Intermediaries (AfI) believes this will save customers as much as £1,650 in upfront costs. With an estimated 40,800 people expected to purchase a house across England and Wales over the next month, this could collectively save customers over £65 million.
The new ‘Homebuyer Plus’ product range includes the following new products:
• 3.29 per cent, two year tracker at 75 per cent LTV
• 3.99 per cent, two year fixed-rate at 70 per cent LTV
• 5.99 per cent, three year fixed-rate at 85 per cent LTV
Customers who take advantage of the new product range will not have to pay for a valuation or their legal costs for buying a new home. The range will also save them time and hassle in finding their own solicitor, especially if, like many first time buyers, they have not already appointed one.
Ricky Okey, managing director of Abbey for Intermediaries and Alliance and Leicester Intermediaries Sales, said: “This is the only product of its kind to be offered in the intermediary market. As it is exclusive to brokers, it not only offers customers a massive saving in up front fees, but also offers brokers the competitive advantage that they have been asking for.”
