Santander for Intermediaries (SFIs) is reducing rates on selected 2 year tracker mortgages, including its Help to Buy mortgage guarantee tracker, by up to 0.45 per cent.
The reductions will take place from Thursday March 6th and will include the addition of unique Homebuyer and Remortgage Solutions, complementing the current Core products so customers will be able to choose from:
- Core – a totally ERC free Tracker product OR
- Homebuyer/Remortgage Solution – an ERC free Tracker product with an ERC on the Homebuyer or Remortgage benefit solution that has to be repaid if the mortgage is redeemed within the first two years
The new products are:
- 2 Year Tracker at 70 per cent LTV, reduced from 2.19% to 2.14% with Core, Homebuyer & Remortgage Solutions, with a £495 fee;
- Market leading 2 Year Tracker at 80 per cent LTV, reduced from 3.29% to 2.84% with Core, Homebuyer & Remortgage Solutions, with a £495 fee;
- Help to Buy 2 Year Tracker, at 95 per cent LTV, reduced from 4.99% to 4.74% with NO FEE
Within its fixed range, SFI is launching a new 5 Year Fixed Current Account Exclusive at 75 per cent LTV and 3.24 per cent rate with £995 fee. This product offers the added benefit of Homebuyer or Remortgage Solution.
SFI is also reducing rates on its selected Existing Mover Exclusives by up to 0.25 per cent, ensuring existing mortgage customers moving home continue to have access to great deals:
- 2 Year Fixed at 75 per cent LTV, reduced from 2.29% to 2.24% with a £995 fee
- 3 Year Fixed at 75 per cent LTV, reduced from 3.04% to 2.79% with a £995 fee
- 2 Year Tracker at 70 per cent LTV, reduced from 2.14% to 2.09% with a £495 fee
Brad Fordham, managing director of Santander for Intermediaries said: “We’ve listened to feedback and are reintroducing our popular Homebuyer and Remortgage Solutions to a number of products within our standard residential 2 Year Tracker range giving customers even more flexibility and choice. We’re now leading the market with our 80 per cent LTV tracker product. Plus we’re reducing the rate on our unique fee-free Help to Buy: mortgage guarantee Tracker, which will certainly prove to be a popular choice for homebuyers looking to secure a property through the scheme.
“Furthermore, as well as reducing rates on our Existing Mover exclusives, existing mortgage customers moving home benefit from more flexible lending decisions via Introducer Internet and brokers will also receive a full proc fee on the total balance. We want to be the intermediary partner of choice and these latest improvements to our range support our commitment to the market by offering good value to their clients. As we move towards MMR, we want to reassure intermediaries that they can continue to expect great rates and quality service from SFI.”
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