Abbey to enter buy-to-let market in next few weeks

by Aaron Strutt

Dec 09 2011

Abbey for Intermediaries has confirmed that it is entering the buy-to-let market in the next few weeks.

The lender was originally thought to be making a return back in November 2010 after pulling out in early 2008.

A spokeswoman for Abbey told Mortgage Strategy: “We are pleased to confirm we will be entering the non-professional sector of the buy-to-let market shortly. We expect this to be in the next few weeks.”

There has been an increase in the number of lenders offering buy-to-let mortgages and Abbey's return will increase competition between the banks. Woolwich recently withdrew from the investment mortgage market because they were receiving more applications than they could handle.

Trinity Financial has access to one of the lowest two-year fixes at 3.65% and it is has a £2,249 fee. You will need a 35% deposit to access the mortgage and the lender provides a free property valuation.

9 December 2011