Santander Mortgages announces £500 cashback on new first-time buyer products

Santander Mortgages is helping first-time buyers’ budgets today (24 May 2022) with the launch of a range of fixed rate mortgage products offering £500 cashback.

The new deals come with no purchase fee and a free standard valuation1 alongside the £500 cashback, giving first-time buyers some extra money in the kitty - whether that’s to put away for a rainy day or to help with doing up their new home.  

The new products include:

  • 85% LTV 2year fixed rate at 2.64% with a £999 fee – with £500 cashback
  • 85% LTV 2year fixed rate at 2.94% with a £0 fee – with £500 cashback
  • 85% LTV 5year fixed rate at 2.79% with a £999 fee - £500 cashback
  • 85% LTV 5year fixed rate at 2.99% with a £0 fee - £500 cashback 
  • 90% LTV 2year fixed rate at 2.69% with a £999 fee - £500 cashback 
  • 90% LTV 2year fixed rate at 2.99% with a £0 fee - £500 cashback 
  • 90% LTV 5year fixed rate at 2.84% with a £999 fee - £500 cashback
  • 90% LTV 5year fixed rate at 3.04% with a £0 fee - £500 cashback 

Graham Sellar, Head of Business Development – Mortgages at Santander said: “With living costs rising and people beginning to feel the pinch, our new £500 cashback gives first-time buyers a helping hand when they need it the most.”

The new deals are available now through brokers and intermediaries nationwide or direct via Santander’s online mortgage portal or through its dedicated phone team, which can be reached on 0800 068 6064.

- Ends -

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.


Santander UK is a financial services provider in the UK that offers a wide range of personal and commercial financial products and services. At 31 December 2021, the bank had around 19,200 employees and serves around 14 million active customers, via a nationwide branch network, telephone, mobile and online banking. 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 the Europe, North America and South America regions, and is one of the largest banks in the world by market capitalization. Its purpose is to help people and businesses prosper in a simple, personal and fair way. Santander is building a more responsible bank and has made a number of commitments to support this objective, including raising over €120 billion in green financing between 2019 and 2025, as well as financially empowering more than 10 million people over the same period. At the end of 2021, Banco Santander had €1.15 trillion in total funds, 153 million customers, of which 25.4 million are loyal and 47.4 million are digital, 9,900 branches and 197,000 employees.