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Santander mortgages cuts rates again

3rd November 2010 Print

Santander has reduced rates yet again on both fixed and tracker products along with the launch of a new competitive two year fix, at 4.15 per cent and 75% LTV, for remortgage customers with a fee of just £99.

The Home of UK Mortgages has reduced a selection of its fixed and tracker rate products as follows:

Tracker:

Rate reduced by 0.22 per cent on two year tracker at 70 per cent LTV for homebuyers, now 2.55 per cent with a fee of £995

Rate reduced by 0.10 per cent on two year tracker at 75 per cent LTV for homebuyers, now 2.79 per cent with a fee of £995

Rate reduced by 0.10 per cent on two year tracker at 75 per cent LTV for homebuyers, now 3.19 per cent with no booking fee

Fixed rate:

Rate reduced by 0.20 per cent on two year fix at 70 per cent LTV for re-mortgagers, now 3.45 per cent with a fee of £495

Rate reduced by 0.10 per cent on two year fix at 70 per cent LTV for homebuyers, now 3.09 per cent with a fee of £495

Rate reduced by 0.15 per cent on two year fix at 75 per cent LTV for homebuyers, now 3.59 per cent with a fee of £495

Rate reduced by 0.26 per cent on three year fix at 70 per cent LTV for homebuyers, now 3.79 per cent with a fee of £495

Rate reduced by 0.26 per cent on three-year fix at 75 per cent LTV for remortgagers, now 4.29 per cent with a fee of £995

Santander has also launched a new two year fix paying a competitive 2.99 per cent.  This rate is available for homebuyers with a 60 per cent or less LTV and comes with a £995 fee.

All of the new products come with the Homebuyer or Remortgage Solution respectively. The Homebuyer Solution offers borrowers the added benefits of a free basic mortgage valuation and £250 cashback on completion, while the Remortgage Solution offers a free basic mortgage valuation, and either free legals or £250 cashback on completion.

A Santander spokesperson said: "Our latest rate reductions mean that borrowers can now access an even more competitive range of mortgages from us, both fixed and tracker. We are committed to offering competitive deals to help and support borrowers and expect these latest rate reductions, and our new two-year fix at 4.15 per cent with a fee of just £99, to be extremely popular"

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