Santander has launched a new five-year fixed rate mortgage of 2.99%. It is available up to 60% LTV.
It is exclusively available to the bank’s existing current account and ‘loyal mover’ customers, whether looking to purchase a new home or remortgage, with a 40% deposit.
To qualify as a loyal customer they need to be either an existing current account customer, where the current account must have been open for 30 calendar days and the new Santander mortgage Direct Debit must come out of this Santander current account or a loyal movers who is an existing Santander or A&L mortgage customer purchasing a new main residential property for their own use.
Customers can add the fee to the mortgage if they desire.
“It’s really exciting to be able to offer exclusively our existing current account and loyal mover customers such a low mortgage rate giving them peace of mind for the next five years,” said Phil Cliff, director of Santander Mortgages.
“As one of the major lenders in the UK, we’re doing our bit to help customers even in tough market conditions.”
Yes, but is it available through intermediaries? Probably not as usual. It's certainly not on the new rate bulletin this morning where the best 5 year fixed rate is 3.99% a full 1% higher..