Santander To Cut Mortgage Rates

Santander is set to cut rates on a selection of its 2 and 3 year tracker and fixed rate mortgages.

The mortgage rate cuts will take effect from tomorrow, 21 December, and will see a reduction of up to 0.2%:

• 0.20% reduction on 2 year tracker at 70% LTV for homebuyers, now 2.85% with £99 fee
• 0.20% reduction on 2 year fix at 75% LTV for homebuyers, now 3.39% with £995 fee
• 0.04% on 3 year fix at 75% LTV, now 4.15% with £995 fee
• 0.01% on 2 year tracker at 70% LTV, now 2.49% with £995 fee

Phil Cliff, Director of Santander Mortgages said: “Whether they’re looking to remortgage or purchase a house, we have some extremely competitive product deals.

As well as cutting rates by up to 0.20 per cent, we are also rewarding customer loyalty by extending our Homebuyer and Remortgage Solutions to all products in the Current Account Exclusive range.

The Homebuyer Solution offers borrowers the benefits of a free basic mortgage valuation and £250 cashback on completion and the Remortgage Solution offers a free basic mortgage valuation, and either free legals or £250 cashback on completion.

The Current Account Exclusive range is available to existing Santander Current Account and Investment customers.

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.