Abbey launches Buy to Let Mortgages to Intermediaries - 10/11/2006

Abbey for Intermediaries is set to begin offering Buy to Let mortgages from Monday 13 November.

The new proposition from Abbey will offer intermediaries the following Buy to Let features:

• 85% LTV up to a loan amount of £1 million per property
• 120% minimum rental cover
• Free valuation up to a property value of £2.5 million and £250 cashback plus no booking fee for purchasers and remortgagers
• Direct access to specialist underwriters to discuss your client's case
• Unlimited number of properties up to a maximum portfolio of £5 million
• Standard BTL procuration fee is 0.50% - appointed representatives or mortgage club users should refer to their network or mortgage club for specific details

Ricky Okey, Managing Director of Abbey for Intermediaries said: "The trial has been a great success and has proved very popular with the brokers that took part. We have taken on board their feedback and are launching a competitive set of Buy to Let products and criteria. Abbey's entry into the Buy to Let intermediary market is yet another example of our commitment to provide the best products and service to our intermediaries."