Abbey for Intermediaries is to launch a new range of flexible offset mortgages at Bank base rate plus 3.25% from tomorrow.
There are two mortgages in the range: a remortgage product which offers free legals and free valuation, and a homebuyer product with free valuation and £250 cashback on completion. The differential to base rate on both products is guaranteed not to rise for the lifetime of the mortgage.
Clive Kornitzer, chief operating officer at Abbey for Intermediaries, says now is the time for borrowers to take advantage of a mortgage that offers real flexibility, particularly if they have savings.
He adds: "With savings rates at an all time low, borrowers can deposit savings in the available balance pot and reduce the interest paid on the balance of the mortgage. These fully flexible mortgages allow borrowers to underpay, overpay and take payment holidays too and we expect them to be highly popular with intermediaries looking for a great flexible offset mortgage for their client."IFAonline
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