Santander Enhances Mortgage Range With New Deals and Cuts Rates Again

LONDON, August 3, 2011 -

On Friday 29 July Santander is launching two new highly competitive mortgages to support borrowers. It has also reduced rates again on a selection of 60, 70 and 75 per cent LTV deals for homebuyers and remortgagers.

The new products are:

• Two-year fix with a rate of 2.99 per cent and £995 fee, available up to 70 per cent LTV for homebuyers and remortgagers
• Four-year fix with a rate of 3.99 per cent and £995 fee, available up to 60 per cent LTV for homebuyers and remortgagers

All of the above products come with either the Homebuyer or Remortgage Solution respectively. The Homebuyer Solution offers borrowers the added benefits of a free standard mortgage valuation and £250 cashback on completion, while the Remortgage Solution offers a free standard mortgage valuation, and either free legals or £250 cashback on completion.

Santander has also reduced rates on a number of products across its range, including:

• Rate reduced by 0.20 per cent on two-year Loyal Mover fix at 75 per cent LTV, available to homebuyers, now 3.19 per cent with £495 fee
• Rate reduced by 0.20 per cent on two-year fix at 75 per cent LTV, available to both homebuyers and remortgagers, now 3.19 per cent with £995 fee
• Rate reduced by 0.20 per cent on two-year fix at 75 per cent LTV, available to homebuyers, now 3.79 per cent with NO fee
• Rate reduced by 0.24 per cent on three-year Loyal Mover fix at 70 per cent LTV, available to homebuyers, now 3.55 per cent with £495 fee
• Rate reduced by 0.24 per cent on three-year fix at 70 per cent LTV, available to homebuyers, now 3.55 per cent with £995 fee
• Rate reduced by 0.20 per cent on three-year fix at 70 per cent LTV, available to remortgagers, now 3.69 per cent with £995 fee
• Rate reduced by 0.10 per cent on two-year fix at 60 per cent LTV, available to both homebuyers and remortgagers, now 2.89 per cent with £995 fee
• Rate reduced by 0.14 per cent on two-year fix at 60 per cent LTV, available to both homebuyers and remortgagers, now 3.15 per cent with £495 fee

All of the above products also come with either the Homebuyer or Remortgage Solution.

Santander has also reduced the rate by 0.20 per cent on its two-year fix at 60 per cent LTV for homebuyers and remortgagers now 2.49 per cent with £1,995 fee.

Phil Cliff, Director of Santander Mortgages, said: ““We are committed to supporting borrowers and we expect these competitive new products to be well received by homebuyers and remortgagers alike. We have also reduced rates again, making our range of mortgages even more attractive to borrowers looking for a great deal.””

The information contained in our press releases is intended solely for journalists and should not be used by consumers to make financial decisions.

Notes to editors

About Us

Santander UK plc is a full-service retail and commercial bank providing services, such as Santander saving accounts, personal loans and insurance products to 25 million customers in more than 1,400 branches and around 4,200 cash machines.  It is a wholly owned subsidiary of Banco Santander.

Banco Santander (SAN.MC, STD.N, BNC.LN) is a retail and commercial bank, based in Spain, with a presence in 10 main markets. At the end of 2010, Santander was the largest bank in the euro zone and 10th in the world by market capitalization. Founded in 1857, Santander had at year-end EUR 1,362 billion in managed funds, more than 95 million customers, 14,082 branches -– more than any other international bank -– and 179,000 employees. It is the largest financial group in Spain and Latin America. Furthermore, it has relevant positions in the United Kingdom, Portugal, the U.S. northeast and, through its Santander Consumer Finance arm, in Germany and Poland. Santander registered €8,181 million in net attributable profit in 2010.

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