Santander cuts mortgage rates

From Friday 1 October 2010, borrowers will be able to benefit from further reductions to Santander's mortgage rates.  In particular, five-year fixed products, available to all purchasers, are reducing by up to 0.26 per cent.  The new competitive range includes:

Five-year fixed reduced to 4.49 per cent (previously 4.75 per cent) and up to 70 per cent LTV with £995 fee

Five-year fixed reduced to 4.99 per cent (previously 5.15 per cent) and up to 75 per cent LTV with £995 fee

Santander, the ‘Home of UK Mortgages', is also introducing a new highly competitive tracker product:

NEW two-year tracker at 3.29 per cent and up to 75 per cent LTV with NO fee available to all borrowers

Phil Cliff, Director of Mortgages at Santander said:  "Santander is committed to offering competitive deals and .  we continue to offer a variety of products to meet borrowers' needs. This is why we have further improved our deals by cutting the rates on our existing 5-year fixes at 70 and 75 per cent LTV.  And for borrowers seeking a more short term deal, our new, market leading, two-year fee free tracker is an excellent option"

For more information on mortgages from Santander, visit santander.co.uk.