Mortgages  

Santander cuts two-year tracker rates

Tomorrow (6 March), Santander for Intermediaries (SFI) will reduce the rates on selected two-year trackers, including its Help to Buy mortgage guarantee tracker.

There is a two-year tracker at 70 per cent LTV, reduced from 2.19 per cent to 2.14 per cent with a £495 fee. The two-year tracker at 80 per cent LTV has been reduced from 3.29 per cent to 2.84 per cent with a £495 fee.

The Help to Buy two-year tracker at 95 per cent LTV is reduced from 4.99 per cent to 4.74 per cent with no fee.

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Within its fixed range, SFI is also launching a new five-year fixed current account exclusive at 75 per cent LTV and 3.24 per cent rate with £995 fee. SFI is also reducing rates on its selected existing mover exclusives by up to 0.25 per cent.

The two-year fixed rate at 75 per cent LTV is reduced from 2.29 per cent to 2.24 per cent with a £995 fee, a three-year fixed rate at 75 per cent LTV is reduced from 3.04 per cent to 2.79 per cent with a £995 fee and the two-year tracker at 70 per cent LTV is reduced from 2.14 per cent to 2.09 per cent with a £495 fee.

Brad Fordham, managing director of Santander for Intermediaries, said: “We’re now leading the market with our 80 per cent LTV tracker product.

“Plus we’re reducing the rate on our unique fee-free Help to Buy: mortgage guarantee tracker, which will certainly prove to be a popular choice for homebuyers looking to secure a property through the scheme.

“We want to be the intermediary partner of choice and these latest improvements to our range support our commitment to the market by offering good value to their clients.

“As we move towards MMR, we want to reassure intermediaries that they can continue to expect great rates and quality service from SFI.”