Santander has reduced rates on its three, five and seven-year fixed rate NewBuy mortgages by up to 0.70 percentage points.
The rates are available exclusively via Abbey for Intermediaries.
The products – all at 90% LTV – are as follows:
- Three-year fixed reduced from 5.49% to 4.99% with a £99 fee
- Five-year fixed reduced from 5.49% to 5.29% with a £99 fee
- Seven-year fixed reduced from 5.99% to 5.29% with a £99 fee
They 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 95% LTV NewBuy mortgages on newly built houses and flats are available from the following developers:
- Barratt Homes (including David Wilson Homes, Ward Homes, & Wilson Bowden)
- Berkeley (including St George, St James, & St Edward)
- Bovis Homes
- Persimmon (including Charles Church, & Westbury)
The mortgages require a minimum loan size £6,000, with a maximum loan size of £475,000.
“These NewBuy product rate reductions demonstrate Santander’s continued commitment to helping customers get on the housing ladder,” said Phil Cliff, director of Santander Mortgages, Santander.
“Our three-year fixed is now a market leading 4.99% while our five and seven-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.”
