Santander rewards loyalty and reduces mortgage rates

Santander, the ‘Home of UK Mortgages', is continuing to reward customer loyalty by launching two new products - a five and two year fixed. The five year fixed has a rate of 4.39% and is only available direct, for existing current account customers. It has a £695 fee and 60 per cent LTV. For those existing current account customers seeking a shorter term, the lender has launched a two-year fixed rate of 3.19 per cent, with £995 fee and 70 per cent LTV.

The new current account products include:

Five year fixed, at 4.39 per cent, with a £695 fee and 60 per cent LTV (maximum £250k )

Two year fixed rate at 3.19 per cent, with a £995 fee and 70 per cent LTV. Homebuyer and Remortgage solutions available (maximum £1m)  

Phil Cliff, Mortgage Director for Santander said:  "As the ‘Home of UK mortgages', we are keen to reward and reduce rates for existing customers where possible. Our new five year fixed gives existing current account customers an extremely competitive deal while the two year fixed offers a great rate for those seeking a higher loan value. The cost of fixed rate mortgages could rise in the not so distant future so we are keen to remind borrowers that now is a good time to lock into a fixed mortgage while interest rates continue to remain historically low. And of course, our loyalty range continues to be supported by our competitive mortgage deals for new customers also."