Santander launches 2-year tracker with low fees

Santander has launched a new 70 per cent loan-to-value LTV two-year tracker mortgage.

The deal has an interest rate of 2.39 per cent, with the Spanish bank requiring fees of just £495 from current account customers.

A new two-year fixed-rate mortgage at 60 per cent LTV has also been launched 2.9 per cent, with a £1,995 fee.

Phil Cliff, mortgage director for Santander, said the bank "started the year with great rates and an excellent choice of products, and this is set to continue".

He said the two-year tracker represents "an excellent deal", considering it comes with the bank's Remo or Homebuyer solution.

"Santander continues to offer a range of competitive mortgage deals for new customers as well as existing customers," Mr Cliff said.

Last week, Nigel Pascoe, director of lending at Skipton International, said it is down to the personal choice of individual consumers whether they opt for a fixed- or variable-rate mortgage.

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2010-06-01 13:14:41 © Moneyextra.com