Santander cuts rates on 80% LTV mortgages

From Thursday (4 March) Santander is slashing the rates on its 80 per cent LTV mortgages.  The new best buy deals are as follows:

3.25% 2-year tracker up to 80% LTV with a £995 fee for purchase only including the Homebuyer Solution (free valuation and £250 cashback on completion)

3.25% 2-year tracker up to 80% LTV with a £1,495 fee for remortgage customers with the Remortgage Solution (free legals and free valuation)

4.95% 2-year fix up to 80% LTV with a £995 fee for purchase only including the Homebuyer Solution

Phil Cliff, Mortgage Director for Santander commented: "We are committed to offering our customers the most competitive rate.  Where borrowers can, saving a bit extra for their deposit is definitely worth it as they will benefit from a much lower rate on their mortgage."

"Our competitive rates and variety of products meant that in 2009, we lent one in five mortgages.  We have consistently offered our customers some of the best deals and these latest products are no exception."