Santander Mortgages announces £1,000 cashback and competitive rates on new first-time buyer products

Santander Mortgages is helping to boost first-time buyer’s budgets today as it launches new mortgage products with extremely competitive rates starting at just 2.45 per cent and a bonus £1,000 cashback on completion.

The new deals, which also come with a zero product fee and a free standard property valuation,1 will leave first-time buyers who take their mortgage with Santander Mortgages with vital extra money that could be spent on kitting out their new kitchen or buying that all important sofa. 
The details of the new products from Santander are:

  • Three Year Fixed Rate, up to 85 per cent LTV at a rate of 2.45 per cent with £0 Fee, £1000 cashback on completion and free standard valuation, minimum loan size £75,000;
  • Three Year Fixed Rate, up to 90 per cent LTV at a rate of 2.65 per cent with £0 Fee, £1000 cashback on completion and free standard valuation, minimum loan size £75,000; and
  • Three Year Fixed Rate, up to 95 per cent LTV at a rate of 3.60 per cent with £0 Fee, £1000 cashback on completion and free standard valuation, minimum loan size £75,000.

Miguel Sard, Head of Mortgages at Santander said: “With a zero product fee, free valuations and £1,000 cashback, first-time buyers with Santander now have extra money available to help get them on their way to turning their new home into their dream home.”

The new deals announced by the bank come at a time when the mortgage industry as a whole is seeing steady growth in the number of first-time buyers. Analysis of the latest data suggests that 36,200 first time buyers secured a mortgage in November 2018, an increase of 5 per cent on the previous year’s figure 2.

The new deals are available now through Santander’s dedicated phone team which can be reached on 0800 068 6064 or by visiting any of Santander’s branches.

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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) On properties valued up to £2.5 million
2) UK Finance’s Mortgage Trends Update for November 2018 

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 30 June 2018, the bank has c24,200 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 are protected by the Financial Services Compensation Scheme (FSCS) in the UK.

About Us
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 market share 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 June 2018, Banco Santander had EUR 981 billion in customer funds (deposits and mutual funds), 140 million customers, 13,500 branches and 200,000 employees. Banco Santander made attributable profit of EUR 3,752 million in the first half of 2018, an increase of 4% compared to the same period last year.

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