Abbey for Intermediaries Launches Market Leading Offset and Five-Year Fix Deals

Sep 12, 2011, 08:07 ET from Santander

LONDON, September 12, 2011 /PRNewswire/ --

Abbey for Intermediaries (AFI) will tomorrow launch two market leading intermediary exclusives.

AFI is launching a new flexi offset product with a market leading rate of 2.95 per cent (BBR + 2.45 per cent) and a £995 fee, which is available up to 75 per cent LTV to both homebuyers and remortgagers.

The intermediary lender is also launching a new five-year fix with a rate of 3.99 per cent and a £495 fee, which is also available up to 75 per cent LTV to both homebuyers and remortgagers.

Both products come with either the Homebuyer or Remortgage Solution respectively. The Homebuyer Solution offers borrowers the added benefits of a free standard mortgage valuation and £250 cashback on completion, while the Remortgage Solution offers a free standard mortgage valuation, and either free legals or £250 cashback on completion.

Miguel Sard, Managing Director at Abbey for Intermediaries, said: "We are committed to supporting intermediaries and their clients with great products and we are delighted to be launching two market leading intermediary exclusives - our new flexi offset for borrowers looking for the flexibility of an offset deal, and a five-year fix for borrowers looking for a great longer-term rate."

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Notes to Editors

Santander UK plc is a full-service retail and commercial bank providing services such as Santander saving accounts, insurance and loans to 32 million customers, with more than 1,400 branches and around 4,200 cash machines.  It is a wholly owned subsidiary of Banco Santander. Santander UK plc is autonomous from its parent in terms of capital and liquidity, raising its own funds to run its business.  Over 95% of the assets on Santander UK plc's balance sheet are UK based, and it is subject to full supervision of the Financial Services Authority (FSA) in the UK.  Santander UK plc customers are protected by the Financial Services Compensation Scheme (FSCS) in the UK.

Banco Santander (SAN.MC, STD.N, BNC.LN) is a retail and commercial bank, based in Spain, with a presence in 10 main markets. Santander is the largest bank in the euro zone and tenth in the world by market capitalization. Founded in 1857, Santander had EUR 1,374 billion in managed funds, more than 100 million customers, 14,679 branches - more than any other international bank - and 190,000 employees at the close of June 2011. It is the largest financial group in Spain and Latin America. Furthermore, it has significant positions in the United Kingdom, Portugal, Germany, Poland and the U.S. northeast. Santander Consumer Finance operates in the Group's core markets as well as in the Nordic region. In the first half of 2011, Grupo Santander registered €3,501 million in net attributable profit.

Abbey for Intermediaries

In the UK, Santander operates part of its mortgage business under the Abbey for Intermediaries (AFI) brand. The intermediary business is responsible for the majority of Santander's annual mortgage sales in the UK. Abbey for Intermediaries is one of the leading specialist intermediary firms in the UK.

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SOURCE Santander