Major Changes To Santander Mortgage Rates Announced
This morning Santander joined the bandwagon of UK mortgage lenders dropping their rates below 4%, which is fantastic to see! The new Santander mortgage rates below 4% announced today stretch across their entire mortgage range and are likely to encourage a lot more borrowers to enter the mortgage market. In this blog I will give you a run down of the new changes announced.
Santander Mortgage Rates Below 4%
Over the last few weeks many UK mortgage lenders have started to drop their rates. Now don’t get me wrong, we are still a long way away from the 1% and 2% rates that were available a few years ago, but these new rate drops of late are a very positive sign for potential borrowers. Many lenders now offer rates at between 4% and 5% which is already much better than they were 12 months ago. But, we have increasingly seen mortgage lenders actually dropping their rates below 4% too. Lenders such as Barclays and HSBC were the front runners, with lenders like Santander tagging along eventually.
Santander Mortgage Rates
From the news announced today by Santander, here are my picks for the best and most beneficial products on offer:
5-year Fixed Rates:
- A 60% LTV 5-year fixed rate residential purchase mortgage with a £999 fee is now priced at 3.80%, down from 4.02%
- A 75% LTV 5-year fixed rate residential purchase mortgage with a £999 fee is now priced at 4.09%,down from 4.30%
- A 85% LTV 5-year fixed rate residential purchase mortgage with a £999 fee is now priced at 4.40%,down from 4.61%.
2-year Fixed Rates:
- A 60% LTV 2-year fixed rate residential purchase mortgage with a £999 fee is now priced at 3.99%,down from 4.28%
- A 75% LTV 2-year fixed rate residential purchase mortgage with a £999 fee is now priced at 4.19%, down from 4.40%
- A 85% LTV 2-year fixed rate residential purchase mortgage with a £999 fee is now priced at 4.58%,down from 4.83%.
3-year New Build Exclusive Rates:
- A 60% LTV 3-year fixed rate residential New Build Exclusive purchase mortgage with a £999 fee is now priced at 3.94%, down from 4.17%
- A 75% LTV 3-year fixed rate residential New Build Exclusive purchase mortgage with a £999 fee is now priced at 4.14%, down from 4.36%
- A 85% LTV three-year fixed rate residential New Build Exclusive purchase mortgage with a £999 fee is now priced at 4.53%, down from 4.68%.
Speak To A Mortgage Advisor About Mortgage Rates Below 4%
The best way to find a low rate that suits your own circumstances is to speak with a professional whole of market mortgage broker. Going it alone in the wide world of mortgages is not advisable and can be a bit of a mine field. Our team of advisors are experts and can help you to find the most competitive deal and lender. Please feel free to give our team a call today to arrange a fee free initial mortgage consultation. We are here to help.
