Abbey offers new mortgage terms

07 July 2005
Abbey has sought to improve its mortgage service, by giving a guarantee that offers will be reviewed and responded to within ten days.

The lender says its pledge is the first of its kind in the industry, and will be extended to all Abbey mortgages at 75 per cent LTV or less.

Ricky Okey who is director of the mortgages and protection sector of Abbey Intermediaries, hailed the deal.

"Abbey is committed to the intermediary market and to prove that we are not afraid to put our words into action, we have launched a cast-iron commitment to the market," he said.

"We guarantee, on all valid applications, to send out an offer within ten working days. All we require is that brokers help us to help themselves by ensuring that all applications are fully packaged, meaning all required documentation is sent together."

The firm will also be publishing mortgage application data in a bid to honour its pledge.

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