Abbey for intermediaries increases mortgages to 90%

Date:Thursday 25th February 2010
Author: Max Freedman

Consumers looking for a 90 per cent loan to value (LTV) mortgage now have the option of taking out a loan with Abbey for intermediaries.

The deal has been created to enable more first-time buyers to take steps onto the property ladder with a low deposit mortgage.

Available on new builds, the loan has a rate of 5.49 per cent as part of a two-year tracker deal.

It comes with a fee of £995 and £250 cashback on competition, as well as a free valuation.

Phil Cliff, mortgage director at Santander, of which Abbey is now a part, said that there has been a return to confidence in that area of the market and by increasing the maximum LTV there will be more choice and flexibility on offer.

This new offer is following a trend for high-value LTV loans, with stating that there are now 88 per cent more 90 per cent LTV mortgages on the market than 12 months ago.