Santander mortgage rates cut
Published: 3 March 2010 By MoneyHighStreet Staff Leave a Comment
Santander will cut the interest rates on its 80% Loan To Value (LTV) mortgage deals from 4 March.
The Santander 80% LTV mortgage deals will have their interest rates cut by a significant 0.74 per cent. As a result new best buy mortgage deals will include
- 2 year tracker mortgage at 3.25%
- 2 year fixed rate mortgage at 4.95%
Both of these are for up to 80% LTV with a £995 fee for purchase only with the Homebuyer Solution – free valuation and £250 cashback on completion.
For remortgage customers there’s a 2 year tracker mortgage at 3.25% for up to 80% LTV with a £1,495 fee with the Remortgage Solution – free legals and free valuation.
Phil Cliff, Mortgage Director for Santander commented “”We are committed to offering our customers the most competitive rate. Where borrowers can, saving a bit extra for their deposit is definitely worth it as they will benefit from a much lower rate on their mortgage.”
According to Santander, they lent one in five mortgages in 2009. In the UK, it operates two retail businesses – Santander, which was formed out of the Abbey and Bradford & Bingley retail network, and Alliance & Leicester.