Customers of Pink Group are being offered an exclusive residential fixed rate product funded by Abbey for Intermediaries.

The rate is fixed at 3.85 per cent for three years and designed for people looking to buy a house at up to 70% loan to value. The product comes with a free valuation and £250 cashback for legal fees.

Neil Hoare, Sales and Marketing Director at Pink Group said: I'm delighted that Abbey for Intermediaries are again showing their commitment to the Intermediary both Pink & BDS appointed representatives and our directly authorised customers. Continued speculation over interest rates, heightened levels of inflation and the state of the economy have created the demand for fixed rates and we are extremely pleased that, in partnership with Abbey, we can offer this exclusive fixed rate to our intermediary customers.

Hoare continues "In times when looking after finances is important, the fact that Pink can pay the fees on any deals that are placed on this product within 24 hours of legal completion helps brokers manage cashflow*.

A spokesperson from Abbey for Intermediaries said "We have seen demand for fixed rate mortgages grow in recent months, as borrowers opt for the security provided by fixing their monthly repayments. We are delighted to offer this highly competitive three-year fix through Pink Group and expect the product to be popular with both intermediaries and their clients alike."

*Terms and Conditions apply