Santander reduces interest rate on fixed rate mortgage

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Santander reduces interest rate on fixed rate mortgage

Santander has announced that it is reducing the interest rate on its fixed rate mortgage product for first-time buyers by 0.15 per cent.

The firm revealed that customers would be able to get a four-year 85 per cent loan-to-value (LTV) fix at 5.69 per cent, down from 5.84 per cent.

This will come with a £495 fee and will be available with the Homebuyer Solution, with which first-time buyers can get a free basic mortgage valuation and £250 cash-back once completed.

Customers who are not first-time buyers could also benefit from a new product available exclusively to those with a Santander current account.

This will be a two-year 75 per cent LTV fix at 3.69 per cent, which comes with the Homebuyer or Remortgage Solution.

Earlier this month, the mortgage provider offered 90 per cent LTV at 5.45 per cent to make it easier for those looking to get on the property ladder. 

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