Santander reduces five-year mortgage rates

Thursday, 11 February 2010 12:00

Santander has altered its mortgage rates, reducing the interest on its five-year fixed products.

The financial company has reduced its fixed-rate by 0.25 per cent and has introduced two new rates which are fee-free.

Current deals include a new buyers 4.99 per cent five-year deal with 70 per cent loan-to-value ratio, which also includes a free valuation and £250 cashback, while the 5.15 per cent offer for remortgages also includes free valuation and legals.

Phil Cliff, mortgage director for Santander, said: "Once again, we are reducing the rates on our market-leading fixed and tracker mortgages."

Other offers from the organisation on its three-year deals include a fee-free 3.09 per cent homebuyer deal with 75 per cent loan-to-value ratio and a 3.14 per cent remortgage offer.

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