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Santander extends sub-one per cent offering in mortgage refresh

  • 24/08/2021
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Santander extends sub-one per cent offering in mortgage refresh
Santander has made a series of rate cuts and additions to its mortgage products, resulting in more sub-one per cent deals up to 75 per cent loan to value (LTV).


New products include purchase products such as the 60 per cent LTV two-year fixed rate product which has a rate of 0.89 per cent. Meanwhile, the five-year fixed rate alternative is priced at 0.99 per cent.  

The 75 per cent LTV equivalents have rates of 1.04 per cent and 1.19 per cent respectively. 

These deals have a fee of £999 and minimum borrowing amount of £250,000. They also offer £250 cashback. 

For those remortgaging through a broker, there is an exclusive three-year fixed rate product at 60 per cent LTV with a rate of 0.93 per cent and an alternative at 75 per cent LTV with a rate of 1.11 per cent. 

Both have product fees of £999. 

Rates across its remortgage and purchase products have also been reduced by up to 0.60 per cent. 

These include the two-year fixed purchase product at 90 per cent LTV, which has been reduced to 2.5 per cent from 3.1 per cent. This has no fee and offers £250 cashback. 

There is also the two-year fixed rate mortgage at 85 per cent LTV, for purchase only, which has decreased by 0.45 per cent to 2.19 per cent. 

This is now priced the same as the remortgage alternative at the same tier, which was cut by 0.27 per cent. Both have no fee and the purchase deal has £250 cashback. 

Elsewhere, two-year residential tracker mortgages at 60 and 75 per cent have been reduced by 0.20 per cent, while Help to Buy deals have fallen by up to 0.45 per cent. 

Mortgages for new-build properties at 85 per cent LTV have been reduced by up to 0.45 per cent and buy-to-let deals have been cut by as much as 0.43 per cent. 

Santander has also withdrawn its first-time buyer exclusive products with £1,000 cashback. 

Changes come in to effect from tomorrow. 

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