Santander is improving the offers for home movers in its loyalty mortgages portfolio by reducing some of the rates and booking fees.
The bank said today they are also cutting rates on standard residential purchase and remortgage deals by up to 0.65 per cent.
Loyalty offer highlights include:
- 1.64 per cent two year fixed, 60 per cent LTV, £495 booking fee
- 1.89 per cent two year fixed, 60 per cent LTV, no booking fee
- 2.35 per cent five year fixed, 60 per cent LTV, £495 b. fee
- 2.94 per cent ten year fixed, 70 per cent LTV, £495 b. fee
The highlights of Santander’s new standard residential purchase and remortgage offers are:
- 1.39 per cent two year fixed, 60 per cent LTV, £1495 booking fee (£200k minimum loan)
- 2.35 per cent five year fixed, 60 per cent LTV, £995 booking fee
- 2.94 per cent ten year fixed, 70 per cent LTV, £995 booking fee
- 4.24 per cent three year fixed, 90 per cent LTV, no booking fee
The bank has also cut rates on its buy-to-let product range (rates start from 2.35 per cent for a two-year mortgage at up to 60 per cent loan-to-value) and has extended the size of loans in its Large Loan mortgage portfolio with the maximum amount that could be lent now standing at £3 million.
“We know that different customers want different things, which is why our new range supports Buy to Let landlords, offers competitive rates on our residential products, including larger loans and rewards customers loyalty,” Miguel Sard, head of mortgages at Santander, commented.
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