9 Nov

Santander helps homebuyers with cut rates

Santander helps homebuyers with cut rates

People looking to secure the finances to buy houses for sale in the UK have been given help by Santander after the bank revealed it has cut its fixed-rate products.

The financier announced it has reduced its fixed-rate mortgages by up to 0.3 per cent as of last Friday (November 5th 2010).

It said that its latest changes will enable customers to enjoy "stability in their mortgage payments".

Andy Smith, a spokesman for Santander, said that the latest products are likely to appeal to people who want the "security of a fixed-rate mortgage".

He stated: "Our market leading four-year deals are sure to appeal to borrowers wanting to lock into a great rate for the longer term."

Among the offers is a five-year fixed-rate deal at 70 per cent loan-to-value (LTV) with a rate reduced by 0.3 percentage points at 4.69 per cent.

Last week, the financial services provider also reduced costs on some of its existing fixed-rate and tracker products, including lowering a two-year tracker at 80 per cent LTV by 0.22 percentage points to 2.55 per cent. ADNFCR-1222-ID-800225761-ADNFCR

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