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Santander targets remortgage boom with rate cuts

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  • 11/09/2017
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Santander targets remortgage boom with rate cuts
Santander has cut rates on some of its two-year and five-year remortgage products which it said were designed to support customers looking to remortgage before the end of the year.

As Mortgage Solutions exclusively revealed, more than £133bn of mortgages are due to reach maturity in the second half of 2017 alone.

The rate cuts apply to its fee-free range and are available on 60%, 75% and 85% loan-to-value (LTV) products.

They also include free valuation and free legal fees or £250 cashback.

Santander also launched a two-year fixed-rate online remortgage exclusive at 1.09% at 75% LTV with a £1,499 fee.

Santander UK managing director of mortgages Miguel Sard said: “These new products are designed to support customers looking to remortgage and lock in to a lower rate.”

 

Two-year fixed-rate zero fee products

  • 60% LTV at 1.39% (down 15bps),
  • 75% LTV at 1.44% (down 20bps),
  • 85% LTV at 1.69% (down 5bps).

 

Five-year fixed-rate zero fee products

  • 60% LTV at 1.79% (down 20bps),
  • 75% LTV at 1.94% (new product),
  • 85% LTV at 2.29% (down 20bps).

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