New Santander mortgage 'fills a gap in the lending market'

Date:Thursday 23rd September 2010
Author: Susanna Kavka

Home-movers have been advised that a new Santander mortgage is a best-buy option.

This is the view of Phil Cliff, director of mortgages at the organisation, who suggested the four-year fixed-rate deal could offer people peace of mind.

The product is available at up to 75 per cent loan to value, with interest at 4.75 per cent and a £495 booking fee charged.

Mr Cliff said: "As the 'Home of UK mortgages', we want to ensure we can reward our loyal customers and this product certainly does fill a gap in the market."

It is part of the company's Loyal Movers project, which aims to offer competitive rates to people who are willing to stay with the firm when they move onto a new home finance arrangement.

This month, Santander also offered its customers the chance to receive 3.25 per cent interest from a loyalty tracker bond, which is 0.25 percentage points higher than what a new client would be offered.