Santander Enhances Mortgage Range With New Deals and Cuts Rates Again

LONDON, ENGLAND, June 14, 2011 (Press-News.org) Santander has today launched a number of highly competitive new Santander mortgages to support borrowers. It has also reduced rates again on a selection of deals for homebuyers and remortgagers.

The new products are:
- Two-year tracker with a rate of 2.99 per cent and no fee, available up to 70 per cent LTV to remortgagers
- Two-year fix with a rate of 3.29 per cent and a GBP495 fee, available up to 60 per cent LTV to homebuyers with a maximum loan size of GBP550K
- Two-year tracker with a rate of 3.99 per cent and a GBP995 fee, available up to 85 per cent LTV to homebuyers
- Two-year tracker with a rate of 4.19 per cent and a GBP995 fee, available up to 85 per cent LTV to remortgagers
- Three-year fix with a rate of 4.99 per cent and a GBP995 fee, available up to 85 per cent LTV to homebuyers

All of the above products come with either the Homebuyer or Remortgage Solution respectively. The Homebuyer Solution offers borrowers the added benefits of a free standard mortgage valuation and GBP250 cashback on completion, while the Remortgage Solution offers a free standard mortgage valuation, and either free legals or GBP250 cashback on completion.

Santander has reduced rates on a number of products across its range, including:
- Rate reduced by 0.10 per cent on two-year tracker at 70 per cent LTV, available exclusively to remortgagers with a Santander Current Account, now 2.49 per cent with a GBP745 fee
- Rate reduced by 0.10 per cent on two-year tracker at 70 per cent LTV for remortgagers, now 2.49 per cent with a GBP995 fee
- Rate reduced by 0.10 per cent on two-year fix at 60 per cent LTV for remortgagers, now 3.29 per cent with a GBP495 fee
- Rate reduced by 0.05 per cent on two-year tracker at 70 per cent LTV, available exclusively to homebuyers with a Santander Current Account, now 2.44 per cent with a GBP745 fee
- Rate reduced by 0.05 per cent on two-year tracker at 70 per cent LTV for homebuyers, now 2.44 per cent with a GBP995 fee

All of the above products also come with either the Homebuyer or Remortgage Solution.

Phil Cliff, Director of Santander Mortgages, said: "As the 'Home of UK Mortgages', we are committed to supporting borrowers and we expect these fantastic new products to be well received by homebuyers and remortgagers alike. We have also reduced rates again, making our range of mortgages even more attractive to borrowers looking for a great deal."

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

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 a presence in 10 main markets. At the end of 2010, Santander was the largest bank in the euro zone and 10th in the world by market capitalization, offering a wide range of products and services including everything from mortgages right through to insurance services such as Santander car insurance. Founded in 1857, Santander had at year-end EUR 1,362 billion in managed funds, more than 95 million customers, 14,082 branches - more than any other international bank - and 179,000 employees. It is the largest financial group in Spain and Latin America. Furthermore, it has relevant positions in the United Kingdom, Portugal, the U.S. northeast and, through its Santander Consumer Finance arm, in Germany and Poland. Santander registered EUR8,181 million in net attributable profit in 2010.

Abbey for Intermediaries
In the UK, Santander operates part of its mortgage business under the Abbey for Intermediaries (AFI) brand. The intermediary business is responsible for the majority of Santander's annual mortgage sales in the UK. Abbey for Intermediaries is one of the leading specialist intermediary firms in the UK.

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Website: http://www.santander.co.uk