Santander has announced a series of cuts up to 0.5 per cent to some of its mortgage rates, marking the beginning of 2010 and Abbey's final transition to Santander.
While Alliance & Leicester – also owned by Santander – will remain as such for the time being, Abbey has now been rebranded and is known as Santander, including its mortgage range, credit cards and other banking products.
As such, the new Santander mortgage rates which are available include as new two year 90 per cent loan to value tracker mortgage with a rate of 4.99 per cent and an arrangement fee of £995, and fixed rate mortgages for three, four or five years.
Existing Santander current account customers could also choose a two year tracker deal for purchase or remortgage at 2.99 cent, with no fee.
Commenting on the new product range, Phil Cliff, director of Santander mortgages, said: "We've started the year as we mean to go on with great rates and an excellent choice of products. Whether customers are looking to fix or the flexibility of a tracker, there is a competitive deal for all."
© Fair Investment Company Ltd
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