Santander mortgage rates gather no moss with more cuts

Santander mortgage rates gather no moss with more cuts

12 March 2010 / by Rachael Stiles

Santander has been on a roll in recent weeks when it comes to mortgage rates, and has announced yet another rate cut – the sixth of this year so far.

The latest mortgage rate cuts, effective immediately, will see Santander's four year fixed rate mortgages fall by 0.4 per cent, thus enhancing its offering to borrowers looking for longer-term security.

The newly priced range now includes a four year fix at 4.49 per cent offering up to 70 per cent loan to value, with a fee of £995, free valuation and legal fees for remortgage customers, or a free valuation and £250 cashback for home purchasers upon completion.

For those with smaller deposits, there are four year fixed rate mortgages offering up to 75 per cent loan to value with no fee, costing 4.99 per cent for homebuyers, or 5.29 per cent for remortgage customers.

Borrowers who want to benefit from the continuing record low base rate can save on the Santander two year tracker mortgage, offering up to 85 per cent LTV and with a rate of 4.74 per cent, which has had £500 knocked off the fee.

Commenting on the new rates and offers, Phil Cliff, director for Santander mortgages said: "Our latest rate reductions mean borrowers can take advantage of even more competitive 4-year fixes, ideal for those looking for the peace of mind provided by a longer term fix.

"Those borrowers wanting the flexibility of a tracker rate and with a smaller deposit, such as first time buyers, can take advantage of the newly reduced fee available on our 2-year tracker."

© Fair Investment Company Ltd

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