3
Feb
Santander announces new mortgage products
Santander has unveiled two new mortgage deals, offering borrowers
loans of up to 70 per cent loan-to-value (LTV) on some of its
fixed-rate and tracker deals.
House buyers could now take advantage of a two-year fixed-rate
product at 3.44 per cent or a two-year tracker mortgage with an
initial rate of 2.49 per cent.
The financial institution also announced that it is cutting the
rate on its five-year fixed-rate deal to 5.44 per cent with an LTV
of up to 75 per cent, making it a market leading rate in this
category.
Fees of £799 apply to the product, which is only available for
purchase and includes a free valuation and £250 cash back when
the transaction is completed.
Phil Cliff, mortgage director for Santander, commented: "Now is a
great time to take advantage of the low mortgage rates available,
whether customers are looking to fix or for a tracker."
Santander is the latest in a string of lenders to announce new
deals at the beginning of February.
Leeds Building Society and Platform, part of the Co-operative Bank,
have both reduced rates for borrowers across specific mortgage
ranges.