Santander launches new tracker and fixed rate mortgages
3 February 2010 By MoneyHighStreet Staff Leave a Comment
Santander has launched new 2 year tracker and fixed rate mortgages and is reducing the rate on its 5 year fixed rate mortgage product.
The 2 year mortgages are available for purchase or remortgages and are a
- 2 year fixed rate mortgage at 3.44% up to 70% LTV
- 2 year tracker mortgage at 2.49% up to 70% LTV
Both of these products have a £995 fee.
The 5 year fixed rate mortgage interest rate will be a new market-leading rate of 5.44% up to 75% LTV and has a £799 fee.
Phil Cliff, Mortgage Director for Santander commented: “Now is a great time to take advantage of the low mortgage rates available, whether customers are looking to fix or for a tracker, we have a variety of market-leading deals available.”
These new products follow the launch by Leeds Building Society of a new 2 year fixed rate mortgage at 3.45%. The rate of 3.45% is available up to 60% loan to value. There are also versions available up to 75% loan to value (LTV) at 3.75%, up to 80% LTV at 4.65% and at 5.45% up to 85% LTV.
They have also launched a 5 year fixed rate mortgage at 4.7% for up to 60% LTV.
On these mortgage products there is no higher lending charge and 10% capital repayments are allowed each year without penalty.
