MortgagesApr 11 2014

Santander rolls out 5-year buy-to-let fix

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Santander for Intermediaries has launched a 5-year fixed buy-to-let deal with a 75 per cent loan to value, available for both employed and self-employed non-professional landlords.

The new 4.34 per cent rate, available from today, has a £1,495 fee and comes with Santander’s Homebuyer or Remortgage Cashback Solutions. SFI has also reduced a selection of its buy-to-let mortgage rates by 0.3 per cent.

Its 2-year fix at 60 per cent LTV has reduced from 2.99 per cent to 2.69 per cent; its 2-year fix at 75 per cent LTV has dropped from 3.49 per cent to 3.19 per cent and its 2-year tracker has been reduced from 3.35 per cent to 3.05 per cent.

All the deals come with SFI’s come with Homebuyer & Remortgage Cashback Solutions and have a £1495 fee.

Brad Fordham, managing director for SFI, said: “The growing buy-to-let market is a key sector for SFI.

“We’ve listened to feedback from our intermediary partners and these latest changes, which include the launch of our 5-year fixed for those landlords seeking guaranteed payments for the longer term plus reduced 60 and 75 per cent LTV rates, demonstrate our commitment to this sector.”

In addition all Santander 1|2|3 current account customers also benefit from 1 per cent cashback on their Santander direct debit mortgage payments.