New business range – 85% LTV increases (purchase and remortgage)
We’re increasing 85% LTV 2 and 5 year fixed rates by up to 0.15%.
- 85% LTV 2 year fixed rate at 2.79% with £999 fee – rate increased by 0.10%
- 85% LTV 5 year fixed rate at 2.94% with £999 fee – rate increased by 0.15%.
For full details of our new business mortgage range please see the Rate Bulletin (Issue 21) which will be available on our website on Tuesday 29 September.
Product transfer range increases
- Increases of 0.05% to 0.20% on selected residential fixed rate and tracker products up to 90% LTV.
- All charge end dates will roll on by one month to 2 January and the completion deadline will be rolled on by one month to 5 February 2021.
Santander product transfer rates are personalised to each customer, so you won’t find them on sourcing systems. Please log on to our Online Mortgage Transfer Service in Introducer Internet on behalf of your client to view the rates available to them.
Improved eligibility criteria for product transfers
We’ve made some improvements to the eligibility criteria for our online product transfer service so that more of your clients are eligible to use the tool.
Product transfer eligibility improvements:
- Mortgage accounts where the outstanding balance is at least £1,000 will be eligible (previously all loan parts had to have a balance of £1,500 or more)
- Loan parts with terms of at least 2 years 6 months will be eligible (previously all loan parts had to have remaining terms at least 5yrs 6 months).
As a result of these improvements we’ve been able to enhance our functionality so that your clients will now only be shown products they are eligible for based on the term remaining.
We’ve also added promotional messages in Introducer Internet to highlight that if your client’s new rate is lower than their existing rate, they can switch early, so the new rate will start straight away, saving them money