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Santander set to extend Help to Buy completion deadlines and add to range

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  • 27/05/2015
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Santander set to extend Help to Buy completion deadlines and add to range
Santander is set to make changes to Help To Buy, buy-to-let and residential mortgage products from tomorrow.

The lender is launching two new Help to Buy equity loan scheme products which offer an extended completion deadline of nine months for purchases.

The first is a fee-free two-and-a-half year fixed rate at 2.44% available up to 75% loan-to-value (LTV). The second is a five-year fix at 3.14% LTV also at 75% LTV and no booking fee.

Santander has also launched a new tracker for buy-to-let customers. Landlords at 75% LTV can opt for a rate 2.94% above base rate, giving an initial rate of 3.44%, with no booking fee for both purchase and remortgage.

Another option is a buy-to-let two-year fixed at 2.84% with a £1,995 booking fee.

For residential customers at 60% LTV there is a two-year tracker at bank rate plus 1.19%, giving an initial rate of 1.69%, with a £1,995 booking fee.

Customers at 75% LTV can opt for a five-year ‘loyalty’ fixed rate at 2.94% with no booking fee. Loyalty customers are those with either an existing Santander mortgage or current account. New customers pay a slightly higher five-year rate at 3.04% with no booking fee.

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