The new large loans range includes a 2.34% 2-year fix, a 3.24% 5-year fix and a lifetime tracker with a 2.59% rate. All three products are available up to 70% LTV for loans of between £1.5m and £2.5m and have a £1995 fee.
Miguel Sard, managing director of Santander for Intermediaries, said: “Market conditions continue to remain buoyant, so on Monday 28 October we are making some exciting changes to our mortgage range to continue our support of intermediaries and the UK housing market.
“We are launching a very competitive range of new products for customers looking for a larger loan of up to £2.5m, extending the maximum loan size on selected standard mortgages to £1.5m, and adding some new standard products with great rates to our already competitive range.
“In addition, the new Large Loans proposition will provide intermediaries with access to dedicated lending relationship managers and underwriters, offering a tailored service to meet their needs for loans of over £1m.
“The recent revitalisation of our mortgage range, offering customers highly competitive, yet flexible, product options has resulted in a 30% increase on new business in the last 6 weeks – up 66% year on year.
“We believe these latest changes provide a fantastic opportunity for us to grow our business in the larger loans segment of the market while demonstrating our continued commitment to intermediaries.”
