Santander introduces 10-year fixed product

Santander has introduced a new 10-year fixed rate mortgage product, as well as reducing its rates on select two- and five-year offers.

The new product is a 60 per cent LTV 10-year fix at 2.39 per cent for purchase or remortgage, and has a £999 fee.

The bank has also cut its rates across select offers. Highlights include the 60 per cent LTV two-year fix reduced from 1.49 per cent to 1.44 per cent. This product is for purchase or remortgage and includes a £999 fee.

In addition, the lender has reduced rates on the 60 per cent LTV five-year fix from 2.09 per cent to 1.99 per cent, and the 75 per cent LTV five-year fixed rate product from 2.14 per cent to 2.09 per cent.

Both offers are for purchase or remortgage and include no product fee.

Santander is now also offering first-time buyers’ free valuations and £500 cashback on the 95 per cent LTV two-year fix at 2.99 per cent, and the 95 per cent LTV five-year at 3.39 per cent.

Santander managing director Miguel Sard comments: “We know a lot of FTBs opt for two- and five-year fixed rate mortgages.

“By offering free valuations and introducing £500 cashback, we hope to give customers a helping hand towards the cost of kitting out their dream home.”

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