Spokesperson Caitlyn Eastell moneyfactscompare.co.ukHe particularly drew attention to the bank’s five-year fixed-rate mortgages.
He explained: “This week Santander cut the interest rate on its five-year fixed-rate deal by 0.29 per cent, currently priced at 5.15 per cent, offered to homebuyers at a 90 per cent loan-to-value ratio.
“Borrowers looking to secure a competitive rate and package will be pleased to hear that this offer also includes a free valuation incentive and a fair product fee of £999 which can also be added to the mortgage advance.
“This makes this deal an attractive choice for those looking to save on the up-front cost of their mortgage. Overall, this deal earns an Outstanding Moneyfacts product rating.”
Here is a list of some other mortgage products for which Santander has reduced interest rates:
- The price of a 60 per cent LTV five-year fixed rate house purchase mortgage with a £999 product charge is now 4.6 per cent, down from 4.95 per cent
- The price of a 75 per cent LTV five-year fixed rate homebuyer mortgage with a £999 product charge is now down from five per cent to 4.74 per cent
- The price of a 90 per cent LTV five-year fixed-rate home purchase mortgage with a £999 product fee has now fallen from 5.44 per cent to 5.15 per cent.
Here is a list of some of Santander’s remortgage products that are also rewarded with rate cuts:
- 60 per cent LTV two-year fixed rate home re-loan with £999 product fee now priced at 5.33 per cent from 5.64 per cent
- 75 per cent LTV two-year fixed rate mortgage with £999 product fee now priced at 5.44 per cent from 5.69 per cent
- The 85 per cent LTV two-year fixed rate mortgage with a £999 product fee is now priced at 5.94 per cent instead of six per cent.