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Santander adds £1,000 cashback to FTB deals; Leeds BS reduces rates on ERC-free range

  • 28/06/2021
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Santander adds £1,000 cashback to FTB deals; Leeds BS reduces rates on ERC-free range
Santander has added £1,000 cashback to some of its first-time buyer products and reduced rates by up to 0.20 per cent.


The purchase only products for first-time buyers with the cashback incentive include the two and five-year fixes at 85 and 90 per cent loan to value (LTV) as well as the 95 per cent LTV mortgage guarantee deals. 

These have minimum loans sizes of £75,000. 

The bank has also added two and five-year fixes at 80 per cent LTV to its offering, both without a fee and with a £995 fee. 

These products are available for remortgages and purchases with rates beginning at 1.8 per cent for a two-year fixed remortgage with a £999 fee and 2.47 per cent for a five-year fixed purchase deal with no fee. 

Products with the largest rate cuts of 0.20 per cent include the two-year fixed at 60 per cent LTV with no fee, now priced at 1.24 per cent. The five-year alternative has seen an equivalent reduction and is now priced at 1.39 per cent. 

Changes will be effective from tomorrow. 


Leeds Building Society cuts rates on ERC-free mortgage range 

Leeds Building Society has reduced rates on its fixed rate flexit mortgages with no early repayment charges (ERCs) by 0.30 per cent. 

The 75 per cent LTV deals now have rates of 1.69 per cent for a two-year fix and 1.89 per cent for a five-year fix. 

Both deals come with a free standard valuation, fees assisted legal services for standard remortgages and a £999 fee. 

Matt Bartle, director of products at Leeds Building Society, said: “Our flexit mortgages give our customers the freedom to adapt their mortgages to suit their changing circumstances. 

“They offer the certainty of fixed mortgage payments each month with the added flexibility to make unlimited overpayments or pay off mortgages in full without any early redemption charges.” 

He added: “These are uncertain times for many of us, and having this extra flexibility can really benefit borrowers, who know when they take a flexit mortgage they have the freedom to make changes later down the line.” 

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