Santander is offering potential homebuyers an “outstanding” interest rate on mortgages, according to experts.
The bank recently announced a wave of rate reductions across its mortgage and remortgage products line.
Over the past year, interest rates have been on the rise as central banks have bolstered base rates in an attempt to control inflation.
Savers have benefited from this decision but it has led to homeowners being dealt with high mortgage rates.
However, Santander is among the financial institutions providing an “outstanding” mortgage rate which buyers are being told to take advantage of.
Read more… Man, 55, fears losing home as interest only mortgage ends in 7 years
BBC Money Box on overpaying mortgage or pensions
Caitlyn Eastell, a spokesperson at Moneyfactscompare.co.uk, particularly highlighted the bank’s five-year fixed-rate mortgages.
She explained: “This week, Santander has reduced the rate on its five-year fixed rate deal by 0.29 percent, now priced at 5.15 percent, available to house purchase customers at 90 percent loan-to-value.
“Borrowers looking to secure a competitive rate and package will be glad to hear this offer also includes a free valuation incentive and a fair product fee of £999, which can also be added to the mortgage advance.
“This deal makes it an attractive choice to those looking to save on the upfront cost of their mortgage. Overall, this deal earns an Outstanding Moneyfacts product rating.”
Boon for homeowners as mortgage rates set to ‘come down further’[UPDATE]
Building Society to reduce fixed mortgage rates this week in ‘welcome news'[INSIGHT]
Santander slashes mortgage rates for homeowners[NEWS]
Here is a list of some other mortgage products from Santander which have had their rates slashed:
- 60 percent LTV five-year fixed rate residential purchase mortgage with a £999 product fee is now priced at 4.6 percent, down from 4.95 percent
- 75 percent LTV five-year fixed rate residential purchase mortgage with a £999 product fee is now priced at 4.74 percent down from five percent
- 90 percent LTV five-year fixed rate residential purchase mortgage with a £999 product fee is now priced at 5.15 percent, down from 5.44 percent.
- Advert-free experience without interruptions.
- Rocket-fast speedy loading pages.
- Exclusive & Unlimited access to all our content.
Here is a list of some of Santander’s remortgage products which have also been awarded with rate reductions:
- 60 percent LTV two-year fixed rate residential remortgage with a £999 product fee is now priced at 5.33 percent, down from 5.64 percent
- 75 percent LTV two-year fixed rate residential remortgage with a £999 product fee is now priced at 5.44 percent, down from 5.69 percent
- 85 percent LTV two-year fixed rate residential remortgage with a £999 product fee is now priced at 5.94 percent, down from six percent.
Get all the latest news, entertainment, sport and lifestyle updates from our dedicated American team.
Follow Daily Express US on Facebook and Twitter @ExpressUSNews
Source: Read Full Article