Interest on Santander fixed-rate mortgages cut

Date:Friday 5th November 2010
Author: Max Freedman

The interest charged on several Santander fixed-rate mortgages has been reduced, with a source at the firm suggesting they could appeal to people who want security from their home finance products.

Andy Smith, a spokesperson at the company, claimed the cuts will give consumers greater choice when it comes to deciding on which fixed-rate deal they want to commit to.

Among the deals that have seen their interest rate reduced by up to 0.3 per cent are a two-year arrangement at up to 60 per cent loan to value (LTV) and a five-year agreement, which is available at up to 75 per cent LTV.

Mr Smith added: "Our market leading four-year deals are sure to appeal to borrowers wanting to lock into a great rate for the longer term."

These reductions follow another set of interest cuts announced earlier this week, with fixed-rate and tracker products having their interest rates dropped by up to 0.26 per cent.