Santander Loyal Mover mortgages 'could benefit people with smaller deposits'

Date:Friday 2nd July 2010
Author: Max Freedman

Consumers who have smaller deposits could find that they can take advantage of Santander Loyal Mover mortgages, says a spokesperson for the firm.

Phil Cliff, mortgage director at the company, highlighted how there are products in the range available at up to 80 per cent loan to value (LTV).

He said: "We've increased the LTV to 80 per cent on both the two-year fixed and two-year tracker to help those borrowers with smaller deposits."

The Santander Loyal Mover mortgage is on offer at a fixed rate of 3.99 and 3.09 per cent for a two-year term for 80 and 70 per cent LTV deals respectively.

Mr Cliff described the arrangements as "extremely competitive", lauding the potential for savings for existing mortgage customers.

The tracker deal is set at 2.99 per cent interest.

Santander recently revealed that it is cheaper to own a property than to rent in every region in England except London.