Mortgages  

Launch Pad: Intermediary deals

The rate on its two-year tracker mortgage has dropped from 2.19 per cent to 2.14 per cent at a loan-to-value of 70 per cent, and is available with a £495 fee on its Core product, which does not charge early repayment charges.

The product is also available to customers of Santander for Intermediaries’ Homebuyer/Remortgage solution, which does not charge an ERC as long as the mortgage is not redeemed within the first two years.

Key features:

• Two-year tracker at 80 per cent LTV reduced from 3.29% to 2.84% with Core or Homebuyer/Remortgage solutions, with a £495 fee.

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

• Five-year, fixed-rate current account exclusive at 75% LTV with a 3.24% rate and £995 fee.

IFA VERDICT: Adrian Knott, owner, Adrian Knott Partnership, London

“The two-year tracker rates are the ones I will be using, as the lack of an ERC is definitely a unique selling point for my clients in London. Santander also has an attractive three-year fixed at 2.79 per cent, but the five-year fixed is priced a quarter of a percentage point higher than the market, which is disappointing.”