Santander launches 0.99 % 18-month fixed rate

Santander has launched its lowest-ever fixed rate mortgage, a 0.99 per cent 18-month loan at 60 per cent LTV.

The loan has a £1499 product fee and has a short-term borrowing option.

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The lender has also added £250 cashback to its 1.89 per cent five-year fixed rate purchase and remortgage loan, at 60 per cent LTV and with a £999 fee.

Santander has also cut rates on its 90 per cent LTV two-year fixed rate first-time buyer loan to 2.24 per cent.

The loan has a £999 fee.

Also, Santander for Intermediaries has new rates across its range of Help to Buy: equity loan products.

The broker-only lender is now selling a 1.54 per cent two-year fix at 75 per cent LTV, with a £999 fee.

It is also offering a 1.64 per cent 2.5-year fixed rate loan at 75 per cent LTV with a £999 fee.

Santander for Intermediaries is also selling a 2.04 per cent 2.5-year fixed loan at 75 per cent LTV, with no product fee.

Santander UK managing director of mortgages Miguel Sard (pictured) says: “I am very pleased to announce our lowest-ever short term fixed rate mortgage.

“We appreciate that in today’s interest rate environment, some customers like to lock into a rate and value knowing the certainty of their monthly repayments.”