New mortgage offers 5.29% rate for FTBs
Santander has unveiled a new two-year fixed-rate mortgage offering a rate of 5.29 per cent at 90 per cent loan-to-value for those looking to get on the property ladder.
The firm's Homebuyer Solution is also provided, which it claims offers cashback of £250 once completed.
Director of mortgages for the organisation Phil Cliff said: "As one of the UK's largest lenders we recognise the importance of supporting the first-time-buyer (FTB), especially during the current economic climate."
He added consumers can benefit from its "highly-competitive rate" and suggested it would provide "a welcome boost" to the market.
Those interested in the product, which is only available for a limited time, need to have a Santander First Home Saver account in order to be granted approval.
Individuals between the ages of 16 and 35 who do not already own a home can acquire an account by agreeing to transfer between £100 and £300 per month via standing order.
Use the Myfinances.co.uk comparison tools to find the best deal on a new mortgage
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