3 Dec

Santander cuts mortgage rates by 0.16 per cent

Santander cuts mortgage rates by 0.16 per cent

Santander has announced it has cut its home loan rates by up to 0.16 per cent in an attempt to help people looking to purchase houses for sale in the UK.

From yesterday (December 2nd 2010), customers have been able to take out two and three-year fixed remortgage products at a reduced cost.

People signing up to a two-year fixed-rate at 75 per cent loan-to-value (LTV) will now be able to do so at a rate of 3.89 per cent, reduced by 0.16 per cent.

It has also cut its two-year fixed-rate 70 per cent LTV loan by 0.1 per cent to 3.25 per cent.

Phil Cliff, director at the financial services provider, said that these are "highly competitive mortgages".

He added: "As well as cutting rates by up to 0.16 per cent, we have also launched a new exclusive first-time buyer mortgage to support borrowers trying to buy their first home, demonstrating our commitment to supporting the UK housing market."

Last month, the financer announced the reduction of its two, three and five-year fixed-rate and tracker products by up to 0.2 per cent. ADNFCR-1222-ID-800272235-ADNFCR

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