Santander has added £250 cashback to its three and five-year fixed mortgage guarantee scheme products at 95 per cent loan to value (LTV).
The three-year fix is priced at 3.99 per cent while the five-year fix has a rate of 4.09 per cent. Both products have no fee.
The bank has also reduced rates on its standard residential and new-build range by as much as 0.20 per cent.
Products to see the largest cuts include the 85 per cent LTV two-year fixed purchase and remortgage deal with a £999. This now has a rate of 2.43 per cent, down from 2.63 per cent.
Another product to receive a 0.20 per cent reduction is the purchase and remortgage five-year fixed mortgage at 85 per cent, which is priced at 2.95 per cent.
The bank also pulled two of the broker exclusive products which were launched two weeks ago. Both at the 85 per cent LTV tier, the two-year fixed with a rate of 2.53 per cent with a £199 fee is no longer available as well as the five-year fixed fee-free option with a rate of 2.85 per cent.
The product changes are effective from today.
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
