Santander releases broker-only residential property purchase mortgages with rates starting from 1.05%
Santander for Intermediaries has launched a selection of broker-only mortgages available to borrowers purchasing a property.
The most competitively priced rate is available to homebuyers with a 30% deposit, and it is fixed at 1.08% until 2 August 2023. The product has a £1,249 arrangement fee. The overall cost for comparison is 3% APRC.
For buyers keen to lock into a longer-term deal, Santander offers a fantastically priced 1.22% rate fixed until 02 August 2026. The product has a £1,499 arrangement fee. The overall cost for comparison is 3.2% APRC.
Both of these deals are available for mortgages between £350,000 and £1.5 million. They have a free basic property valuation, and there is also a £250 contribution to costs. After the fixed period, they revert to Santander’s standard variable rate of 3.35%, and early repayment charges apply.
Aaron Strutt, product director at Trinity Financial, says: “We are 50 days away from the stamp duty deadline and there are still a lot of borrowers keen to take advantage of the tax break. If you agree to purchase a property, there is still time to complete, but if there is a long chain or the property searches are delayed you may struggle to meet the cut-off point. it is unlikely the stamp duty holiday will be extended this time.”
Santander's new deals comfortably undercut many of the other providers best mortgages if you are looking for a £350,000+ loan. The bank has a range of purchase and remortgage rates available to borrowers providing they have a 5% deposit.
Call Trinity Financial on 020 7016 0790 to secure a best buy deal or book a mortgage consultation
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