Tomorrow (Thursday 9 January 2014) Santander launches its range of Help to Buy: mortgage guarantee products via branches and over the telephone and through intermediary channels
The new range offers fixed and tracker rates starting from 4.99 per cent, with a minimum deposit of 5 per cent of the purchase price and no booking fees on properties up to the value of £600,000.
All products come with the Homebuyer Solution as standard, which includes a free valuation plus £250 cashback.
The products include:
- 4.99 per cent two-year fixed rate
- 5.49 per cent five-year fixed rate
- 4.99 per cent two-year variable rate tracker
Miguel Sard, head of Santander Mortgages, said: “We’re pleased to be joining the second phase of the government’s Help to Buy scheme. These latest products have no upfront fees and come with our unique Homebuyer Solution keeping down the cost for customers looking to buy with a 5 per cent deposit and further extending our product offering to borrowers with smaller deposits, helping to achieve our aim of becoming the lender of choice for UK homeowners.
“The first phase of the government’s Help to Buy scheme has already helped improve the flow of credit to good quality customers, and played an important role in helping both first time buyers and homemovers looking to buy new build properties. This has seen a welcome return of some confidence back into the market.
“Santander is committed to helping consumers get on, and move up, the property ladder, and our new Help to Buy: mortgage guarantee range is the latest addition to our competitively priced range of products.
“Santander 1|2|3 Current Account customers who pay their monthly mortgage payment by direct debit also benefit from receiving 1 per cent cashback on maximum monthly mortgage payments of £1,000.”
Santander’s other affordable housing products include Help to Buy: equity loan, and NewBuy. There is also a Shared Ownership ‘exclusive’ mortgage at 95 per cent loan-to-value available to customers purchasing shared ownership properties from the following housing associations – Affinity Sutton, Plumlife, A2 Dominion, Orbit, and London & Quadrant.
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