1 Oct

Santander reduce mortgage rates to boost houses for sale in UK

Santander reduce mortgage rates to boost houses for sale in UK

Mortgage provider Santander has announced it will cut its loan rates - a move which may encourage homebuyers to purchase houses for sale in Britain.

The financial services company revealed that from today (October 1st 2010) customers will be able to take out products with rates reduced by up to 0.26 per cent.

These offers are available on its five-year fixed-rate loan - which was originally 4.99 per cent and is now 4.49 per cent - and its five-year fixed-rate product at 4.99, down from 5.15 per cent.

Director of mortgages at the company Phil Cliff said: "Santander is committed to offering competitive deals and we continue to offer a variety of products to meet borrowers' needs."

He also highlighted the firm's newly introduced two-year tracker product, at a rate of 3.29 per cent available on mortgages with a loan-to-value of 75 per cent.

Last week, Santander launched a new four-year fixed-rate mortgage at 4.75 per cent on products with 75 per cent loan-to-value.

Mr Cliff stated that the deal was intended to give homebuyers searching for houses for sale in the UK "peace of mind".  ADNFCR-1222-ID-800094992-ADNFCR

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