Santander announces new FTB products with cashback

Santander Mortgages has announced £1,000 cashback for a range of newly launched first-time buyer products.

The three new products are all three-year fixes and consist of an 85 per cent LTV at 2.45 per cent, a 90 per cent LTV at 2.65 per cent, and a 95 per cent LTV product at 3.60 per cent.

All of the new offers have a minimum loan size of £75,000, come with no product fee, £1,000 cashback and free standard valuation on properties up to £2.5m.

Santander head of mortgages Miguel Sard says: “The new deals announced by the bank come at a time when the mortgage industry as a whole is seeing steady growth in the number FTBs.

“Analysis of the latest data suggests that 36,200 FTBs secured a mortgage in November 2018, an increase of 5 per cent on the previous year’s figure.”

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