Santander fixed-rate mortgages interest rates lowered

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Santander fixed-rate mortgages interest rates lowered

Thu 8th Jul 2010

The interest rates on several Santander fixed-rate mortgages have been cut, with a two-year deal available at 3.19 per cent.

Consumers who wish to secure this rate need to be applying for a "purchase only" deal, since remortgaging takes the interest up to 3.29 per cent.

The other Santander fixed-rate mortgages to see a fall in the interest being charged is the five-year arrangement, which used to stand at 5.44 per cent, but is now being offered at 5.25 per cent.

Phil Cliff, mortgage director for the company, commented on the value for money that customers will receive from these products.

"As the 'Home of UK mortgages', we want to offer our customers competitive rates and a good variety of products and the latest changes to our range are no exception," he explained.

Last month, Santander announced the launch of its Grand Prix Podium Special three-year tracker mortgage, which is available at 3.21 per cent interest.

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