Santander mortgages notes upfront costs can be a 'hurdle'

Date:Friday 30th July 2010
Author: Max Freedman

Consumers applying for a home purchase deal often struggle to afford the upfront costs associated with such arrangements, a spokesperson for Santander mortgages has noted.

Phil Cliff, mortgage director at the organisation, made his comments after the firm announced a reduction in fees for several of its products.

He suggested this move could be welcomed by customers who may have a great deal of cash.

"We're also offering these deals with our Homebuyer Solution, which pays for the valuation and gives £250 cashback, helping relieve some of the extra costs that come with buying a home," noted Mr Cliff.

Santander mortgages revealed that the fees on certain fixed-rate deals, as well as the Loyal Movers and Flexible Offset arrangements, have been reduced by up to £500.

Recent research by the firm showed that the 'age of austerity' has kicked in for many Brits, with 55 per cent of people saying they are shopping around for the best prices for their groceries.