Santander is launching its lowest ever 10-year fixed rate mortgage but you need a 40 per cent deposit to get the 3.44 per cent rate and there is a £995 fee.
In addition, Santander has made further reductions to selected three and five-year fixes. The three-year fix requires a 30 per cent deposit and comes with a 2.54 per cent rate for both homebuyers and remortgagers. The fee is £995.
Homebuyers with a 10 per cent deposit can get a five-year fix at 4.45 per cent and there is no booking fee.
Remortgagers can also continue to take advantage of Santander’s lowest ever two-year remortgage fixed rate at 1.84 per cent available up to 60 per cent LTV (40 per cent deposit) with a £995 booking fee.
Santander 1|2|3 Current Account customers who pay their monthly Santander mortgage payment by direct debit will receive 1 per cent cashback on maximum monthly mortgage payments of £1,000.
Miguel Sard, managing director of mortgages at Santander UK, said: “With the launch of our new 10-year fix we are widening our range of mortgage options on offer. Whether you want the security of a 10-year fix, or simply the reassurance of a shorter-term deal, we are currently offering some of the lowest fixed rates on the market.”
