Santander cuts mortgage rates

Santander has cut mortgage rates on a number of its two and three year fixed rate products.

The bank, which is the self-proclaimed home of mortgages, has reduced its rates by as much as 0.30 percentage points.

Remortgagors can now take out cheap mortgages offering a two year fixed rate of 4.69 per cent of home loans with a loan to value LTV of up to 85 per cent.

The mortgage product has an arrangement fee of just £995.

Alternatively, those with a larger deposit and wishing to fix their mortgage payments for longer may want to consider the bank's rate of 3.79 per cent fixed for three years.

This deal is available to loyal movers on mortgages with a maximum LTV of 70 per cent and has no arrangement fee.

A recent Nationwide confidence survey has revealed that consumers are happier about the current climate.

The index increased by 11 points in May, thought to be boosted by the good weather and the Royal Wedding.

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2011-06-16 15:33:23 © Moneyextra.com