Available from 2 July, the ‘Grand Prix Podium Special’ mortgage has no fee, is offered up to 75% LTV with a maximum loan of £550,000.

In addition, as part of it loyal mover range of products, AfI has increased its LTV from 75% to 80% on its two-year fixed and two-year tracker deals, available at 3.99% and 2.99% respectively, with no arrangement fee.

AfI is also to launch a two-year fixed at 3.09% up to 70% LTV with a £995 fee and maximum loan of £1m for customers moving home.

Phil Cliff, mortgage director for Santander, said: “We are keen to reward existing customers where possible. Our new two-year fixed gives existing mortgage customers an extremely competitive deal while we’ve increased the LTV to 80% on both the two-year fixed and two-year tracker to help those borrowers with smaller deposits.”

Abbey is also running a competition giving intermediaries the chance to win a signed Vodafone McLaren Mercedes team shirt signed by Lewis Hamilton and Jenson Button. Intermediaries can enter online between 5 to 23 July.

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