There are two new 95 per cent deals: a two-year fixed rate at 6.64 per cent and a five-year fixed rate at 6.59 per cent. Both products come with £250 cashback and no product fee.
On the buy-to-let front, landlords can access a two-year fixed rate at 6.09 per cent with a £1,499 fee, which is available for both purchase and remortgage business. Alternatively, there are five-year options, including a 6.04 per cent rate with a £1,499 fee. This is also available for both purchases and remortgages.
The new products are available from today.
Connecting with Acre
Elsewhere members of the Acre broker network will enjoy direct API connectivity with Santander.
The API was developed with Mortgage Brain, and means that brokers will be able to obtain a full decision in principle (DIP) and pre-populated full mortgage application through Acre’s mortgage platform. Acre’s system ensures all data is in place before the request is initiated, which the firms argued makes it essentially a ‘one click’ process.
Cloe Atkinson, chief operating officer at Mortgage Brain, said: “Acre is one of many distributors we are helping with the creation of our industry plumbing that ensures lenders can connect to multiple distributors and aggregators. And gives distributors greater ease and efficiencies to integrate with lenders.”
Justus Brown, founder & CEO at Acre added that Santander was one of the nation’s most important lenders, and enabling instant DIP for their mortgages would save brokers time.
“Rewiring the mortgage process requires collaboration of many and the buy-in of many. We look forward to working with Mortgage Brain to extend this approach to other key lenders.”
