Santander slashes fixed mortgage fees by £500

From Friday 30 July 2010, Santander, the ‘Home of UK Mortgages', is reducing fees on selected two and three-year fixed mortgages by £500. In addition it is also reducing the fee on its two year fixed for Loyal Movers to £495 and its Flexible Offset to £1,250. All products come with Santander's Homebuyer Solution which includes free basic valuation and £250 cashback.

The new competitive rates are as follows:

Two-year fixed at 3.19 per cent and up to 70 per cent LTV with a £495 fee (previously £995) including the Homebuyer Solution

Two-year fixed at 3.74 per cent and up to 75 per cent LTV with a £495 fee (previously £995) including the Homebuyer Solution

Three-year fixed at 4.11 per cent and up to 70 per cent LTV with a £495 fee (previously £995) including the Homebuyer Solution

Three-year fixed at 4.35 per cent and up to 75 per cent LTV with a £495 fee (previously £995) including the Homebuyer Solution
Plus

Loyal Mover two-year fixed at 3.09 per cent and up to 70 per cent LTV with a £495 fee (previously £995) including the Homebuyer Solution

Flexible Offset of 3.49 per cent and up to 75 per cent LTV with a reduced upfront fee of £245 (previously £1,495) to £1,250 including the Homebuyer Solution

Phil Cliff, Mortgage Director for Santander said: "We continue to offer an attractive range of mortgages to borrowers, and today's fee reductions are no exception.  As the ‘Home of UK Mortgages' we know that upfront costs can sometimes be a hurdle for many customers so we've reduced our fees by up to £500 on many of our great fixed rate deals. In addition, we're also offering these deals with our Homebuyer Solution which pays for the valuation and gives £250 cashback helping relieve some of the extra costs that comes with buying a home."