Santander has today launched a new tracker mortgage with no fee, and up to 75 per cent loan to value.
The new Santander 3-2-1 mortgage, available to new customers, offers borrowers the opportunity to "qualify for its new Grand Prix Podium Special mortgage."
The three year tracker mortgage is available to all customers at a rate of 3.21 per cent, while existing mortgage customers looking to move can borrow from 75 to 80 per cent loan to value on a two year fixed rate mortgage or two year tracker through Santander's new Loyal Mover package.
The Loyal Mover range offers a two year fix at a rate of 3.99 per cent, and the Loyal Mover two year tracker costs 2.99 per cent; both offer up to 80 per cent LTV and no fee, up to a maximum of £550,000.
Customers with a larger deposit can borrow up to 70 per cent at a two year fixed rate of 3.09 per cent.
Commenting on the new range of products, Phil Cliff, director of Santander mortgages, said: "As the ‘Home of UK mortgages', we wanted to offer customers an opportunity to get their finances into pole position and our Grand Prix Podium Special with its competitive rate of 3.21 per cent and no fee will certainly help keep them on track.
"As always, Santander is keen to reward existing customers where possible. Our new two-year fixed gives existing mortgage customers an extremely competitive deal while we've increased the LTV to 80 per cent on both the two-year fixed and two-year tracker to help those borrowers with smaller deposits."
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