From today, customers looking to buy their first property, or looking to remortgage to a new deal, can apply for new lower interest rates from Santander Mortgages.
The bank has announced a reduction on rates across 15 of its mortgage products including two-year and five-year fixed products with a range of LTV’s from 60 per cent – 95 per cent.
In addition to the reduction in interest rates, customers looking to purchase a property through the Help to Buy scheme using an intermediary can now benefit from £500 cashback on a five-year fixed, 75 per cent, 2.29 per cent. This new offer is double the £250 cashback previously offered.
Miguel Sard, Head of Mortgages at Santander Mortgages said: “Spring is usually a busy time for the mortgage market and these new rates will help customers looking to purchase a new home in time for summer or spruce up their existing mortgage deal.”
The full changes announced today by Santander Mortgages are:
Available through all channels:
- Two-year fixed, 60 per cent LTV, £999 product fee, purchase and remortgage, 1.49 per cent – rate reduced by 0.05 per cent;
- Two-year fixed, 60 per cent LTV, £0 product fee, purchase and remortgage, 1.79 per cent – rate reduced by 0.10 per cent;
- Two-year fixed, 75 per cent LTV, £999 product fee, purchase and remortgage, 1.54 per cent – rate reduced by 0.05 per cent;
- Two-year fixed, 95 per cent LTV, £0 product fee, purchase only, 2.99 per cent – rate reduced by 0.05 per cent;
- Five-year fixed, 60 per cent LTV, £999 product fee, purchase and remortgages 1.84 per cent – rate reduced by 0.05 per cent;
- Five-year fixed, 60 per cent LTV, £0 product fee, purchase and remortgages, 2.04 per cent – rate reduced by 0.05 per cent;
- Five-year fixed, 75 per cent LTV, £999 product fee, purchase and remortgages, 1.94 per cent – rate reduced by 0.05 per cent;
- Five-year fixed, 75 per cent LTV, £0 product fee, purchase and remortgages, 2.14 per cent – rate reduced by 0.05 per cent; and
- Five-year fixed, 95 per cent LTV, £0 product fee, purchase, 3.39 per cent – rate reduced by 0.10 per cent.
Available online only:
- Two-year fixed, 75 per cent LTV, £999 fee, remortgage only, 1.49 per cent – rate reduced by 0.05 per cent; and
- Five-year fixed, 75 per cent LTV, £999 fee, remortgages only, 1.91 per cent – rate reduced by 0.05 per cent;
Available through intermediaries only:
- Five-year fixed, 75 per cent LTV, £999 fee, purchase only,2.04 per cent – rate reduced by 0.05 per cent.
- Ends -
The information contained in our press releases is intended solely for journalists and should not be used by consumers to make financial decisions.
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.
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