Santander offering large loan remortgage rates
Santander for Intermediaries is offering a range of fixed rates specifically designed for clients looking to remortgage their large mortgage loans. They offer leading rates for mortgages between £250,000 and £2.5 million.
Their most competitively priced two-year fixed rate from mortgages up to £1.5 million is 2.39% and it has a £995 arrangement fee. Borrowers will need 35% equity in their property to qualify for this rate.
For applicants will larger mortgages and looking to borrow up to £2.5 million, Santander offers a two-year fix at 2.64% and it has a £1,995 arrangement fee. Borrowers will need at least 30% equity in their property.
Both mortgages have 4.5% APR’s and after the fixed rate period they revert to the lenders standard variable rate, currently 4.74%.
Aaron Strutt, product manager at Trinity Financial, says: “Santander provides a 'remortgage solution' which means they will pay for the property valuation and legal fees when you switch to them.
“Another benefit is that Santander will not ask for assets to be transferred for them to manage as part of the deal, unlike many of the private banks.
“There are still a huge amount of borrowers sitting on standard variable rates and paying more money for their mortgage than necessary.”
If you would like help to remortgage a large mortgage loan, call Trinity on 020 7016 0790.
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