Santander cuts mortgage rates

People looking for the best mortgage rates may wish to check out Santander's latest offering as the bank has cut its rates by up to 0.2 per cent and introduced two new fixed-rate products.

A tracker mortgage, available up to 75 per cent loan-to-value LTV, has been reduced by 0.20 per cent and now offers a rate of 2.69 per cent with a £995 fee.

The bank has also introduced two new 80 per cent LTV two-year fixed-rate mortgages at 4.38 per cent as well as a fee-free three-year fix at 3.09 per cent at 70 per cent LTV.

Phil Cliff, director of Santander Mortgages, said: "We continue to look at ways to support first time buyers and believe this change will do just that, helping them to manage costs from the outset."

All of the new mortgage products from Santander come with the homebuyer solution, which offers borrowers the benefit of a free basic mortgage valuation and £250 cash-back on completion.

Santander's recent £200 fee reduction is designed to help consumers access the best mortgage rates at a time when all other goods' prices have increased due to the VAT rise.
 

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2011-01-24 13:18:09 © Moneyextra.com