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Santander joins rate slashing race with two-year fix

by: Samantha Partington
  • 16/01/2015
  • 0
Santander joins rate slashing race with two-year fix
Santander has joined the latest round of rate slashing by launching its lowest ever two-year fixed rate for remortgage borrowers at 1.59% up to 60% loan-to-value (LTV), with a fee of £1,495.

For homebuyers with a smaller deposit, looking for a fee-free option, rates at 4.69% and 4.99% are available fixed for two and five-years respectively up to 95% LTV.

The lender has also made reductions to selected fixed rates and tracker products across its range.

Miguel Sard (pictured), head of Santander Mortgages, Santander said: “Our new rates are designed for all mortgage borrowers. We want to support everyone looking to take the next step – whether they are looking to get a foot on the property ladder, remortgage or move to a new home. These products are some of the lowest rates available and we will help customers looking to arrange the best possible deal in 2015.”

In the first two weeks of the year a stream of lenders have rolled out aggressive pricing strategies and record low rates.

Skipton launched its lowest two-year fixed rate available up to 50% LTV at 1.36% while The Mortgage Works (TMW) unveiled a 10-year fixed rate available up to 75% LTV at 4.99% with a £995 fee.

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