Santander remortgage tracker 'offers improved qualification period'

Date:Tuesday 16th November 2010
Author: Max Freedman

The qualification period for a Santander remortgage tracker agreeement has been cut, with a source from the firm suggesting this will open up the deal to more consumers.

Phil Cliff, director of the company's mortgage division, made his comments after the financial services provider announced the launch of a two-year tracker for remortgages at 2.09 per cent interest and up to 60 per cent loan to value.

He pointed out the arrangement is only available to current account customers and claimed the decision to reduce the qualification period from six to three months will ensure more people can take advantage of the opportunity.

"As the home of UK Mortgages, our latest competitive tracker product rewards existing current account customers with a great rate," said Mr Cliff.

This month, chief economist at Santander Barry Naisbitt described the news that the base rate is being held at 0.5 per cent for another month as being a "familiar story".