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Santander cuts Help to Buy rates

  • 31/05/2017
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Santander cuts Help to Buy rates
Santander has cut rates on a series of its Help to Buy Equity Loan products and some of its fee-free mortgages for borrowers with larger deposits.

The lender has also added a cut-price online only five-year fixed rate loan.

Help to Buy Equity Loan rates have been cut by 0.15% for fixed-rate mortgages at 75% loan to value (LTV) for purchases only.

Offers come with a £999 fee or fee-free and include:

  • 75% LTV two-year fixed at 1.39%, with £999 product fee;
  • 75% LTV five-year fixed at 2.69%, with no product fee.

Some fee-free mortgages at 60% and 75% LTV have also seen rates cut by at least 0.1% and include:

  • 60% LTV two- year fixed 1.54%, no product fee, purchase and remortgage;
  • 75% LTV five- year fixed 2.29%, no product fee, purchase and remortgage;
  • 75% LTV five-year fixed 2.19%, no product fee, for first-time buyer.

The online exclusive for purchasing and remortgaging customers is a 75% cent LTV five-year fixed at 1.89%, with £999 product fee.

Santander UK managing director of mortgages Miguel Sard said: “By reducing the rates in our Help to Buy: Equity Loan product range, we hope to enable more first-time buyers get a foot on the housing ladder.

“For homemovers and those wanting to take the next step, we know that added costs can mount up, which is why we have made the changes to our range to reflect this.”

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