Santander is introducing its lowest ever two-year fixed remortgage rate and cutting the rates on its Help to Buy portfolio.
The bank is offering from today a new two-year fixed remortgage rate at 1.59 per cent up to 60 per cent loan-to-value with a £1,495 booking fee.
Another two new additions – a five-year fixed rate at 2.45 per cent up to 60 per cent LTV with a £995 fee for homebuyers and remortgagers, and a two-year fixed rate remortgage at 1.69 per cent up to 75 per cent LTV with a £1,495 fee, have also been included.
Combined all three represent a substantial reduction to rates of Santander’s Help to Buy range, the bank said.
“Our new rates are designed looking to get a foot on the property ladder, remortgage or move to a new home. These products are some of the lowest rates available for all mortgage borrowers. We want to support everyone looking to take the next step – whether they are and we will help customers looking to arrange the best possible deal in 2015,” Miguel Sard, head of Santander Mortgages, said.
To help customers reduce upfront fees further, Santander has two no-fee offers for homebuyers – a two-year fix at 4.69 per cent available up to 95 per cent LTV and a five-year fix at 4.99 per cent available up to 95 per cent. The rate on the two-year fix was cut by 0.80 percentage points and the reduction on the five-year fix was 0.60 percentage points.
Santander has also lowered the rates on a whole range of other products for homebuyers and remortgagers:
|
Product |
LTV |
Fee |
Reduction |
New Rate |
|
2-year fixed |
up to 80% |
£995 |
0.15 pp |
2.14% |
|
5-year fixed |
up to 80% |
£995 |
0.25 pp |
3.19% |
|
2-year tracker |
up to 75% |
£995 |
0.20 pp |
1.59% |
|
flexible offset lifetime tracker |
up to 75% |
£495 |
0.20 pp |
2.99% |
