Santander reduces mortgage rates

Santander has announced plans to reduce the fees on a selection of its tracker and fixed-rate mortgages, which offer some of the most competitive mortgage rates on the market.

The £200 fee reduction is designed to help consumers access the best mortgage at a time when all other goods prices are increasing due to the VAT rise.

A two-year fix at 70 per cent loan-to-value LTV at a rate of 2.99 per cent has had its fees reduced to £795 from £995.

For those looking to access a tracker mortgage, the fee on a product at 75 per cent LTV at a rate of 2.79 per cent has also been reduced to £795.

Phil Cliff, director of Santander Mortgages, said: "As the 'Home of UK Mortgages' we're always looking at ways we can help homebuyers. Moving home often results in additional expenses.

"Our new initiative of reducing fees on selected products by £200 will hopefully come as welcome news to those homebuyers looking to save money as they face the new VAT hikes."

All Santander mortgage products come with a free basic mortgage valuation and £250 cashback upon completion.
 

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2010-12-31 15:10:54 © Moneyextra.com