Santander Mortgages has today announced changes to its mortgage offering, including a new ten-year fixed rate deal and three new first-time buyer exclusive products offering £1,000 cashback1.
In addition, to further support first-time buyers and those borrowing with higher loan-to-values (LTV), the bank has announced a new five-year fixed rate deal, at 90 per cent LTV which carries no product fee. It has also unveiled rate reductions across seven of its two-year and five-year fixed rate products, with LTVs ranging from 85-95 per cent.
Miguel Sard, Head of Mortgages at Santander Mortgages said: “We know that customers looking at higher LTV borrowing can be faced with challenging interest rates.
“Whether you are a first-time buyer looking for a mortgage that gives you a little something back, or an existing home-owner looking to remortgage, we hope that our updated products will help make your home ownership dreams possible.”
The full changes announced today by Santander Mortgages are:
New First-time buyer products with £1,000 cashback and free valuation:
- Three-year fixed rate; 95 per cent LTV; £0 fee; 2.99 per cent
- Three-year fixed rate; 90 per cent LTV; £0 fee; 2.39 per cent
- Three-year fixed rate; 85 per cent LTV; £0 fee; 2.24 per cent
New residential products:
- Five-year fixed rate; 90 per cent LTV; £0 fee; Purchase and Remortgage; 2.49 per cent
- Ten-year fixed rate; 75 per cent LTV; £999 fee; Purchase and Remortgage; 2.49 per cent
Decreased rates:
- Five-year fixed rate; 95 per cent LTV; £0 fee; Purchase; 3.29 per cent – a decrease of 0.10 per cent
- Five-year fixed rate; 90 per cent LTV; £999; fee Purchase and Remortgage 2.34 per cent – a decrease of 0.15 per cent
- Five-year fixed rate; 85 per cent LTV; £0 fee; Purchase and Remortgage 2.34 per cent – a decrease of 0.05 per cent
- Five-year fixed rate; 85 per cent LTV £999 fee; Purchase and Remortgage; 2.09 per cent – a decrease of 0.05 per cent
- Two-year fixed rate; 95 per cent LTV; £0 fee; Purchase; 2.94 per cent – a decrease of 0.05 per cent
- Two-year fixed rate; 90 per cent LTV; £0 fee; Purchase and Remortgage 2.34 per cent – a decrease of 0.05 per cent
- Two-year fixed rate; 90 per cent LTV; £999 fee; Purchase and Remortgage; 1.89 per cent – a decrease of 0.20 per cent
Santander Mortgages has also today launched three new mortgage products exclusively for their private and select account holders2, available in direct channels only:
- Three-year fixed rate; 60 per cent LTV; £999 fee; Purchase and Remortgage 1.59 per cent
- Three-year fixed rate; 75 per cent LTV; £1499 fee; Purchase and Remortgage 1.59 per cent
- Three-year fixed rate; 75 per cent LTV; £999 fee; Purchase and Remortgage 1.69 per cent
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The information contained in our press releases is intended solely for journalists and should not be used by consumers to make financial decisions.
Notes to Editors
1) The £1,000 cashback offer was first introduced by Santander in January 2019, and is available on completion for borrowing over £75,000, for more information on this please visit our website.
2) Account conditions apply for the Private and Select exclusives.
Santander UK is a financial services provider in the UK that offers a wide range of personal and commercial financial products and services. It has brought real competition to the UK, through its innovative products for retail customers and relationship banking model for UK SMEs. At 31 December 2018, the bank has c23,800 employees. It serves around 15 million active customers, via a nationwide branch network, telephone, mobile and online banking; and 64 regional Corporate Business Centres. Santander UK is subject to the full supervision of the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) in the UK. Santander UK plc customers’ eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) in the UK.
Banco Santander (SAN SM, STD US, BNC LN) is a leading retail and commercial bank, founded in 1857 and headquartered in Spain. It has a meaningful presence in 10 core markets in Europe and the Americas, and is the largest bank in the euro zone by market capitalization. At the end of 2018, Banco Santander had EUR 981 billion in customer funds (deposits and mutual funds), 144 million customers, 13,000 branches and 200,000 employees. Banco Santander made attributable profit of EUR 7,810 million in 2018, an increase of 18% compared to the previous year.
Media Enquiries
Samantha Wrench T:020 7756 4209 M: 07544 158 565 E: samantha.wrench@santander.co.uk
Deborah Lewis T: 020 7756 4212 M: 07845 051 939 E: deborah.lewis@santander.co.uk
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