Santander raises rates on new tracker deals

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Santander has increased the rates on new tracker deals by up to 0.2 per cent and launched a range of new fixed rate products that are up to 0.25 per cent lower than previous deals.

Selected buy-to-let deals have also been reduced.

The new deals are as follows:

Fixed Rate

  • 60 per cent LTV 10 year fixed 2.79 per cent with a £995 product fee, available on purchase and remortgage
  • 60 per cent LTV 5 year fixed 2.09 per cent with a £995 product fee, available on purchase and remortgage
  • 75 per cent LTV 5 year fixed 2.29 per cent with a £995 product fee, available on purchase and remortgage
  • 75 per cent LTV 5 year fixed 2.54 per cent with a zero product fee, available on purchase and remortgage
  • 60 per cent LTV 2 year fixed 1.34 per cent with a £995 product fee, available on purchase and remortgage
  • 60 per cent LTV 2 year fixed 1.74 per cent with a zero product fee, available on purchase and remortgage
  • 75 per cent LTV 2 year fixed 1.49 per cent with a £995 product fee, available on purchase and remortgage
  • 75 per cent LTV 2 year fixed 1.84 per cent with a zero product fee, available on purchase and remortgage
  • 90 per cent LTV 2 year fixed 2.44 per cent with a £995 product fee, exclusive for first time buyers.
  • In addition, purchase fixed products at 80, 85 and 90 per cent LTV now come with added £250 cashback payable on completion.

Buy-to-Let

  • 60 per cent LTV 2 year fixed 1.94 per cent with a 1% product fee, available on purchase and remortgage
  • 75 per cent LTV 2 year fixed 2.29 per cent with a 1% product fee available on purchase and remortgage

Tracker Rates

  • 60 per cent LTV 2 year tracker 1.44 per cent with a £995 product fee, available on purchase and remortgage
  • 75 per cent LTV 2 year tracker 1.54 per cent with a £995 product fee, available on purchase and remortgage
  • 85 per cent LTV 2 year tracker 1.79 per cent with a £995 product fee, available on purchase and remortgage

Santander UK managing director of mortgages Miguel Sard says: “With house-hunting set to resume in earnest in September and with more customers than ever wanting certainty over their monthly mortgage repayments, we have designed a competitive range of fixed rate products, giving our customers the peace of mind that they have locked into a competitive rate for a set period.”

These mortgages come with Santander’s Homebuyer Free Valuation for purchase customers and Remortgage Solution, offering a free valuation and £250 cashback for those remortgaging.