Santander launch four-year fix for loyal customers

Santander has launched a new market-leading four-year fix for loyal movers, which will offer customers very competitive mortgage rates.

From September 24th, existing Santander customers looking to move home will be able to access the bank's new fixed-rate mortgage as part of the company's Loyal Movers range.

Available at 4.75 per cent and with a booking fee of just £495, the four-year fix is an extension of Santander's cheap mortgage product range.

Phil Cliff, director of mortgages at Santander, said that the company is delighted to be able to reward loyal customers with this new best-buy product at a time when many borrowers are looking for the peace of mind provided by a fixed rate.

He added: "As the 'Home of UK mortgages', we want to ensure we can reward our loyal customers and this product certainly does fit a gap in the market."

Santander is also offering a shorter-term, market-leading, two-year fix at 3.99 per cent for 80 per cent loan to value LTV, which has no fee.

Recent research by Defaqto, has revealed that one in four mortgages are now restricted to lenders' existing customers, who already have either a current account or home loan with them.
 

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2010-09-24 11:37:18 © Moneyextra.com