3 Feb

Santander announces new mortgage products

Santander announces new mortgage products

Santander has unveiled two new mortgage deals, offering borrowers loans of up to 70 per cent loan-to-value (LTV) on some of its fixed-rate and tracker deals.

House buyers could now take advantage of a two-year fixed-rate product at 3.44 per cent or a two-year tracker mortgage with an initial rate of 2.49 per cent.

The financial institution also announced that it is cutting the rate on its five-year fixed-rate deal to 5.44 per cent with an LTV of up to 75 per cent, making it a market leading rate in this category.

Fees of £799 apply to the product, which is only available for purchase and includes a free valuation and £250 cash back when the transaction is completed.

Phil Cliff, mortgage director for Santander, commented: "Now is a great time to take advantage of the low mortgage rates available, whether customers are looking to fix or for a tracker."

Santander is the latest in a string of lenders to announce new deals at the beginning of February.

Leeds Building Society and Platform, part of the Co-operative Bank, have both reduced rates for borrowers across specific mortgage ranges.ADNFCR-1222-ID-19595789-ADNFCR

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