Phil Cliff, director of Santander Mortgages, said: “These NewBuy product rate reductions demonstrate Santander’s continued commitment to helping customers get on the housing ladder. Our 3-year fixed is now a market leading 4.99% while our 5 and 7-year fixed remain highly competitive at 5.29%. This reduction in rates coupled with low upfront fees of £99 make our NewBuy mortgage range the best value products available exclusively via the intermediary market.”
The new rates, which are available exclusively via Abbey for Intermediaries, are as follows:
• 3-year fixed reduced from 5.49% to 4.99% with a £99 fee
• 5-year fixed reduced from 5.49% to 5.29% with a £99 fee
• 7-year fixed reduced from 5.99% to 5.29% with a £99 fee
The products, which are all 95% LTV, come with the Homebuyer solution as standard which includes free valuation plus £250 cashback on completion, helping customers with the upfront costs of purchasing a property.
Santander’s range of NewBuy mortgages, available as part of the Government’s NewBuy scheme, will continue to be available via intermediaries with established ties to Barratt Homes, Berkeley, Bovis Homes and Persimmon.
