From today, 10 July 2018, Santander will be introducing reduced rates across a number of mortgage products. New deals available to customers, both purchasing and remortaging with the bank, include rate reductions of up to 0.3 per cent on existing five year fixed rate deals and 0.2 per cent on existing two year fixed rate deals.
For customers seeking to remortgage and purchase a new home with larger loans up to £3m:
- 70 per cent LTV, five year fixed rate has decreased by 0.3 per cent to 1.99 per cent with £1999 product fee;
- 70 per cent LTV, two year fixed rate has decreased by 0.15 per cent to 1.69 per cent with £1,999 product fee; and
- 70 per cent LTV, two year tracker rate has decreased by 0.1 per cent to 1.84 per cent with £1,999 product fee.
Santander has also reduced rates on its standard range products (1) for customers looking to remortgage and purchase a new home:
- 85 per cent LTV, two year fixed rate has decreased by 0.2 per cent to 1.74 per cent with £999 product fee;
In addition, Santander has improved offers within its key account exclusives range:
- 60 per cent LTV, five year fixed rate has decreased by 0.05 per cent to 1.84 per cent with £1,499 product fee, purchase and remortgage, key account exclusive.
- Launched a new 75 per cent LTV, five year fixed rate 2.14 per cent with £0 product fee, purchase and remortgage, key account exclusive.
In addition to announcing lower mortgage interest rates, Santander has today confirmed that from Monday 3 September 2018 its minimum new business procuration fee will change to £250, bringing it in line with market competitors. Additionally, the minimum loan amount of £25,000 to trigger the minimum procuration fee will be removed illustrating continued support for small loans.
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Notes to Editors
1) Loans up to £1 million.
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