AFI’s NewBuy rates reduced

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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.”

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