Santander Launches New Mortgage Products

LONDON, ENGLAND, May 17, 2011 (Press-News.org) From Friday 13 May, Santander, the 'Home of UK Mortgages' is launching a new three year fixed Homebuyer product at 85 per cent LTV, at 5.49 per cent with NO fee ''ideal for those homeowners looking to buy. The new product also comes with Santander's Homebuyer Solution which offers the added benefits of a free basic mortgage valuation and GBP250 cash-back on completion.

In addition, Santander is also reducing rates on a selection of its two year fixed products:

- Rate reduced by 0.10 per cent on two-year fix at 80 per cent LTV for homebuyers, now 4.19 per cent with a GBP995 fee
- Rate reduced by 0.10 per cent on two-year fix at 85 per cent LTV, available exclusively to first-time buyers, now 4.99 per cent with a GBP495 fee
- Rate reduced by 0.10 per cent on two-year fix at 85 per cent LTV for homebuyers, now 4.99 per cent with a GBP995 fee
- Rate reduced by 0.06 per cent on two-year fix at 70 per cent LTV for homebuyers, now 3.49 per cent with a GBP995 fee
- Rate reduced by 0.06 per cent on two-year fix at 70 per cent LTV for Loyal Movers, now 3.49 per cent with a GBP495 fee
- Rate reduced by 0.04 per cent on two-year fix at 75 per cent LTV, available to homebuyers, now 3.55 per cent with a GBP995 fee

All products offer the Homebuyer Solution which comes with the added benefits of a free basic mortgage valuation and GBP250 cash-back on completion.

Phil Cliff, Director of Santander Mortgages, said: "As the 'Home of UK Mortgages' , we understand the challenges faced by today's homeowners and are keen to get Britain moving. Despite the doom and gloom surrounding the property market, we are committed to helping housebuyers get the product that is affordable and best suits their needs. This latest range of product launches and rates are just a selection of some of the competitive products we currently offer first time buyers and remortgagors alike - helping them to get the home they want and can afford."

The information contained in our press releases is intended solely for journalists and should not be used by consumers to make financial decisions.

Notes to Editors:

1. The Current Account mortgage range is available to existing customers who have held their main bank account with Santander for more than three months.

About Us
Banco Santander (SAN.MC, STD.N, BNC.LN) is a retail and commercial bank, based in Spain, with presence in 10 main markets.

In the UK, Santander was formed out of the Abbey, Bradford & Bingley and Alliance & Leicester retail networks. It has over 1400 branches, around 4,500 cash machines and provides a full range of retail and corporate banking as well as insurance services, such as Santander home insurance, to 25 million customers.

For more information visit http://products.santander.co.uk/insurance.html.