Santander for Intermediaries (SFI) has completed its first Help to Buy mortgage guarantee loan – just three weeks since it launched its latest products.
The news coincides with Santander UK’s announcement that it has increased its mortgage lending by 30 per cent, from £14 billion in 2012 to £18.4 billion in 2013.
Santander launched its range of 95 per cent LTV Help to Buy mortgage guarantee products on 9 January 2014 and has approved over 850 applications.
Brad Fordham, managing director of Santander for Intermediaries, said: “There’s been a huge response to our new Help to Buy products, with over 850 applications already in the pipeline, so it’s great to be announcing our first completion so soon – in just three weeks – with many more to come.”
David Newnes, director of estate agents, Your Move, whose client took Santanders first Help to Buy mortgage guarantee loan, said: “The whole process proved so easy and with Santander offering such an attractive Help to Buy deal it became clear that we were going to be able to support the buyer very quickly – in the end within just three weeks of them seeing the property they are now buying.
“Overall a great success story for all concerned and one we hope to replicate, across our UK network of branches, in the weeks and months to come.”
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