Alliance & Leicester Intermediary Sales will also reduce the rates on some of its fixed rate products by up to 0.20%.
From tomorrow, the following new products will be launched by Abbey for Intermediaries:
* A two year fixed rate mortgage, 70% LTV at 3.59% with a £995 fee (Homebuyer product – with Homebuyer Plus option)
* A two year fixed rate mortgage, 70% LTV at 3.64% with a £995 fee (Remortgage product)
Abbey is also reducing the rate on its current 70% LTV, two year fixed rate product with a £995 fee by 0.15% to 3.29%.
Meanwhile, Alliance & Leicester will also reduce the rates on the following 70% LTV, two year fixed rate products by up to 0.20%:
* Remortgage and Homebuyer products with a 2% fee down by 0.16% to 2.99%
* Remortgage and Homebuyer products with a £1,495 fee down by 0.06% to 3.59%
* Remortgage and Homebuyer products with a £495 fee down by 0.20% to 3.75%
Commenting, Adrian Whittaker, key accounts director at Abbey for Intermediaries and Alliance & Leicester Intermediary Sales said: “We are committed to being a competitive fixed rate mortgage lender and intermediaries will not only benefit from this week’s rate cuts, but can also be assured that we will continue to offer them ongoing access to the widest and most competitive range of products in the market.”
