Santander set to lend £25bn in 2014
Santander is set to increase its mortgage lending to £25bn next year and break back into the top three lenders. This is according to a report in Mortgage Strategy magazine.
Over the last few years the Spanish banking giant has been shrinking its balance sheet as part of a planned reduction in mortgage lending, but they are set to make a strong return. Santander has been regarded as one of the top mortgage lenders for a number of years, but during 2012 the bank only advanced £14.6bn to borrowers. This represents a 38% fall compared to 2011, when it lent £23.7bn.
Aaron Strutt, product manager at Trinity Financial, says: "Santander is still offering some of the lowest fixed rates particularly if you are looking to take part of the mortgage on an interest-only basis".
Their most competitively priced two-year fixed rate is 2.04% and it has a £995 arrangement fee. Borrowers will need a 40% deposit to access this rate and the maximum loan size is £1 million.
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September 27, 2013
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