Santander Cuts Interest Rates on Remortgages

According to a recent article in Financial Times Adviser, Santander, Spanish-based lender, has reduced interest rates on a number of its remortgage products.

As such, the interest borrowers will have to pay on a 75% loan-to-value 2-year fix has been slashed by 0.16%, to 3.73%.

A 2-year fixed remortgage with 70% LTV, which was earlier offered at 3.25%, has seen an interest rate cut by 0.1%.

A 3-year fixed remortgage, which was previously available at 3.79% and a fee of almost £1000, has been reduced by 0.08%.

It is important to note that all the three deals come with either £250 cashback or free legal fees.

Commenting on the move, Mr. Cliff of Santander Mortgage, claimed that the bank wants "to ensure we offer a range of highly competitive mortgages." He highlighted that the lender not only made remortgages more affordable, but also introduced attractive deals for first-time buyers “demonstrating our commitment to supporting the UK housing market.”

If you want to apply for a remortgage deal, use comparison websites to find the best offer.

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