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Santander to launch 3 FTB deals starting from 2.59%

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Santander will launch three exclusive fixed-rate mortgages for first-time buyers.

The bank today sent a note to brokers saying that from tomorrow it will launch the following products:

  • 85 per cent LTV five-year fixed rate of 3.14 per cent
  • 90 per cent LTV two-year fixed rate of 2.59 per cent
  • 90 per cent LTV five-year fixed rate of 3.49 per cent

All three products have a £995 booking fee, though Santander says this can be capitalised on the two 90 per cent products.

The new mortgages also include free valuations on properties worth up to £2.5m and £250 cashback on completion as part of Santander’s HomeBuyer Solution.

The bank will also be adding the £250 cutback deal onto its following existing first-time buyer mortgages:

  • 80 per cent LTV two-year fixed 1.84 per cent with £995 booking fee
  • 85 per cent LTV two-year fixed 1.99 per cent with £995 booking fee

Santander will also be withdrawing its 90 per cent LTV two-year fixed zero fee first time buyer exclusive mortgage.

Last week, Santander sent a note to brokers saying it would cut its maximum loan-to-income cap on residential loans of more than 80 per cent LTV.

Santander had not responded to calls for comment by the time of publication.

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