Santander announced new 70% LTV mortgages

Date:Wednesday 3rd February 2010
Author: Susanna Kavka

Santander has announced it is to launch two new mortgages with a loan-to-value (LTV) of 70 per cent.

Customers who are interested in looking for a two-year product can take out the new deal as either a tracker or a fixed-rate product.

Prospective house buyers looking for a fixed-rate can take the loan with a rate of 3.44 per cent, while those who want a mortgage that tracks the Bank of England base rate can currently get the loan with a rate of 2.49 per cent.

Both of the products are available for new buyers and remortgaging customers and have a £995 fee.

Phil Cliff, mortgage director for Santander, commented that it is a "great time" to get on to the property ladder with one of the company’s market-leading deals.

At the end of January, Santander decreased the rates across its entire range of mortgages, including a 0.4 per cent reduction on all fixed-rates.