Santander mortgages on a roll with more rate cuts

Santander mortgages on a roll with more rate cuts

03 February 2010 / by Rachael Stiles

Santander is introducing new mortgages and cutting the rates on some of its existing deals yet again today, having done so for three consecutive weeks.

Borrowers will be able to choose from a two year fixed rate or tracker mortgage deal offering 70 per cent loan to value, with rates of 3.44 per cent and 2.49 per cent respectively, and fees of £995, for either purchase or remortgage.

The Santander five year fixed rate mortgage will see its rate cut to 5.44 per cent for a 75 per cent LTV and a fee of £799; this deal also includes a free valuation and £250 cashback upon completion.

Commenting on the new home loans available and the rate cut, Phil Cliff, director of Santander mortgages, said: "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."

This announcement comes less than a week after Santander last announced new mortgage deals and lower interest rates on their product range.

Abbey has now been rebranded and is known as Santander; the products join the others which are available through Spanish banking giant Santander and its other acquired UK lender, Alliance & Leicester.

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