Santander offers customers ‘Freedom to choose'
Santander has re-launched its mortgage range under-pinned by a new core value ‘Freedom'. The range includes products with a choice of features including no booking fees, no ERC, overpayment options and cash-back giving customers the Freedom to choose the right mortgage to meet their needs.
No Early Repayment Charge (ERC) offers customers the freedom to pay off their mortgage early or have the freedom to switch to another mortgage product more suited to their needs without incurring an additional fee. The initial ERC free products are:
ERC free Lifetime Tracker with a rate of 2.49 per cent and £495 fee, available up to 75 per cent LTV
ERC free two-year fix with a rate of 2.84 per cent and £995 fee, available up to 75 per cent LTV
ERC free three-year fix with a rate of 3.29 per cent and £995 fee, available up to 75 per cent LTV
ERC free Flexi Offset with a rate of 3.59 per cent and £495 fee, available up to 75per cent LTV
Phil Cliff, Director of Santander Mortgages, said: "As one of the UK's leading lenders, Santander wants to be front of mind for all homebuyers. Great rates, great value and great service have always been at the heart of what we do. We're re-launching our mortgage product range designed to give our customers the freedom to choose a mortgage that has features to meet their needs now and in the future.
"Our ERC-free range offers customers freedom not normally associated with mortgage products. Our 2 and 3 year fixed rates provide customers with the stability of knowing what their monthly payment will be but with the added freedom of being able to overpay and flexibility to switch to another mortgage dependent on their needs or change in circumstance, with no additional fees attached. Alternatively customers can also benefit from being ERC-free with our market-leading Lifetime Tracker at 2.49 per cent and our Flexi Offset at 3.59 per cent, both up to 75 per cent LTV.
"New mortgage regulation (MMR) will come into force next April bringing with it new requirements around mortgage affordability. The regulation is designed to protect customers and ensure they get a mortgage they can afford. Santander new mortgage range complements this, putting our relationship with our customers at the heart of our business and ensuring they get the right mortgage for them - one they can afford and which meets their needs.
In addition to the freedom to overpay or switch their mortgage, Santander's mortgage range also offer a wide variety of features that give customers the freedom to choose what is most important to them, be it the ability to avoid upfront booking fees or save on standard valuation costs. The range includes a market-leading 5 year fix at 70 per cent LTV 2.99 per cent with £995 fee, competitive 2 and 3 year fixed and 2 year tracker products plus reductions across its ‘Help to Buy' range too. The majority of our new products come with a Free Valuation and £250 Cashback for those buying a new home and a Free Valuation and £250 Cashback or Free Legals for those re-mortgaging.
Phil Cliff continues: "We're focused on rewarding our customers and our new market-leading 3 year fix at 70 per cent LTV, available exclusively to our Current Account customers, does just that, offering the security of a great rate on a mid-term product. In addition to a great mortgage rate, all 1|2|3 Current Account customers also benefit from 1% cashback on their Santander direct debit mortgage payments too - whatever Santander mortgage they have.
"We have a strong heritage in the mortgage market, focused on providing a competitive and extensive mortgage range. Buying a home remains one of life's biggest expenses and we remain committed to helping customers across the UK get the mortgage product that's right for them. Our aim is to be as clear as possible, offering a range of value-for-money products that are flexible, easy to understand and suited to individual customers' needs and changing circumstances, via our UK-wide network of branches, over the telephone or online."
For more information, visit santander.co.uk.