New Remortgage Tracker From Santander

Santander has launched a new two-year tracker available exclusively to existing Current Account customers.

The new remortgage tracker product is available for up to 60% LTV at 2.09% but it is only available to Santander Current Account customers looking to remortgage.

There’s a £995 fee and it comes with the Remortgage Solution which offers a free basic mortgage valuation, and either a free basic mortgage valuation or £250 cashback on completion.

To qualify for Santander’s new two-year tracker, customers must have:

• An existing Santander Current Account
• Credited a minimum of £1,000 a month into the account over the last three months (this can be made up of multiple amounts)
• At least two active Direct Debits or Standing Orders set up on the account, which have been paid in the last 30 calendar days.

Phil Cliff, Director of Santander Mortgages, said: “As the Home of UK Mortgages, our latest competitive tracker product rewards existing Current Account customers with a great rate.

Slashing the qualification criteria to three months ensures that existing Santander Current Account customers – or those who have recently switched and are looking to remortgage – can make the most of this opportunity and get a great product.”

Banco Santander (SAN.MC, STD.N, BNC.LN) is a retail and commercial bank, based in Spain, with presence in 10 main markets.

In the UK, Santander was formed out of the Abbey, Bradford & Bingley and Alliance & Leicester retail networks. It has over 1300 branches, around 4,500 cash machines and provides a full range of retail and corporate banking services to 25 million customers.