Santander has launched a direct-only five-year fixed rate mortgage at 2.99 per cent up to 60 per cent loan-to-value.
The product is only available to customers existing current account and mortgage customers looking to purchase a new home. It does not come with any other added benefits, like a free standard valuation, free legals or any cash back options, like with some of the lender’s other products.
The lender has also launched new three- and five-year fixed rates available up to 60 per cent LTV for intermediaries.
The three-year fix is available for 2.99 per cent and a £1,495 fee and the five-year product is available for 3.49 per cent, also for a £1,495.
Both products are available to purchase and remortgage customers and come with the lender’s homebuyer and remortgage solutions, respectively. The homebuyer solution gives borrowers a free standard valuation and £250 cash back on completion, while the remortgage solution gives borrowers a free standard valuation and either free legals or £250 cash back on completion.
The two products are available to selected key account partners, including Intrinsic, Tenet, Sesame Bankhall, Countrywide, SimplyBiz, LSL and London & Country.
Abbey managing director Miguel Sard says: “We are very pleased to support the intermediary market with these market-leading deals, which are available exclusively through selected Key Account partners. We expect these great rates to be very well received by borrowers looking for the peace of mind of a fixed rate deal in today’s challenging market conditions.”
Last week, HSBC launched a five-year fixed rate up to 60 per cent LTV at 2.99 per cent.