Santander has unveiled details of the second phase of it’s Help to Buy mortgage deals.
From tomorrow (9 January), Santander will offer a 4.99 per cent two-year fixed rate Help to Buy mortgage, a 5.49 per cent five-year fixed rate Help to Buy Mortgage and a 4.99 per cent variable rate tracker Help to Buy deal, all with no booking fees on properties up to the value of £600,000.
All products offer a free valuation plus £250 cashback, helping customers with the upfront costs of purchasing a property.
As Santander currently already offers products up to 90 per cent LTV in our standard mortgage range, the lender said it will only be taking part in the second phase of the scheme for loans with an LTV between 90 and 95 per cent.
Miguel Sard, head of Santander Mortgages, said: “The first phase of the Government’s Help to Buy scheme has already helped improve the flow of credit to good quality customers, and played an important role in helping both first time buyers and homemovers looking to buy new build properties.
“This has seen a welcome return of some confidence back into the market.”
Santander’s latest step into Help to Buy comes after yesterday (7 January) NatWest Intermediary Solutions confirmed it will be entering the Help to Buy mortgage guarantee scheme on 14 January with details of the deals set to be revealed next week.
