Afin Bank scraps fixed rate product fee

May 12, 2026 by Brendan O'Neill

Mortgage Advisors

Afin Bank has announced that the fee for one of its fixed rate products has been scrapped, with the aim of enhancing affordability.

The product in question is the fixed five-year mortgage with loan-to-value (LTV) of 95%. By scrapping the fee, the specialist lender has reduced the overall cost for borrowers by £1,495. It is an offer that may prove to be especially enticing for those people who are trying to buy for the first time, as they have been hit hard by affordability challenges.

This product comes with two different rates, depending on whether a borrower opts for Prime or Professional. The former has a 6.49% rate, while for the latter it is 6.34%. It is available without a fee for all applications that are successfully completed during this month.

Removing the fee for this product is not the only step that Afin Bank has taken to help borrowers though. It is also making remortgage legal fees available at no cost throughout May. That has the potential to bring a saving of between £900 and £1,800 depending on the size of the loan.

Rob Lankey is the bank’s national sales director. He told Mortgage Solutions that rising rates had made things difficult for borrowers. He then went on to add:

“By removing the product fee on our 95% LTV mortgages, we’re aiming to help borrowers free up their cash a bit more, so they could potentially buy their own home with just a 5% deposit.”

Anything that improves affordability will be welcomed by mortgage advisors with CeMAP training.