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Santander launches new purchase fixed rates on Wednesday 13 September
New 60% LTV residential purchase products and other reductions
On Wednesday 13 September, we’re introducing new 60% LTV residential fixed rates for purchase clients including £500 cashback for first time buyers (FTB). We’re also reducing selected residential purchase fixed rates by up to 0.14%. In addition, we’re changing the maximum loan size of the 3 year fixed rate range with no product fee to £550,000.
There are no changes to residential trackers or the Buy to Let range. Product transfer rates are also not changing.
New business
- New 60% LTV residential range with 2, 3 and 5 year fixed rate options for purchase clients with or without a product fee
- New 60% LTV FTB exclusive 2, 3 and 5 year fixed rates with £500 cashback and no product fee
- New 60% LTV New Build exclusive 3 year fixed rates for residential clients with or without a product fee
- Selected residential fixed rates reducing by between 0.05% and 0.14% for purchase clients
Further information
Full details of our new business range can be found in Rate Bulletin (issue 25). You’ll find this on our Latest mortgage rates page from Wednesday 13 September
We’ve improved our product transfer cancellation process
Good news, from Thursday 14 September, we’ve improved our product transfer cancellation process. You’ll now be able to request a new product transfer deal online, where your client has a product transfer deal pending.
Online eligibility
- It’s at least 14 days before the start of the pending deal, and
- Your client has a mortgage with a single loan part only, and
- Your client hasn’t paid the product fee upfront (where applicable).
You should follow the email cancellation process on our website where your client:
- Has a mortgage with multiple loan parts, and/or
- Has paid their product fee upfront, and/or
- Wants to cancel without booking a new deal.
Cancelling a product transfer request online
Step 1: you’ll be able to log on to our online mortgage transfer service in Introducer Internet and view our current available product transfer rates.
Step 2: if your client wants to change to a different product with us, you can continue and progress to the ‘Important Information’ screen to submit a new product transfer request.
Step 3: IMPORTANT you’ll need to make your client aware that they must accept their new product transfer offer to cancel the deal already pending on their mortgage. Once your client has accepted the offer, the new deal will be secured.
Step 4: cancellation of the previous deal may take up to three working days. We’ll send you and your client a MATS message when the cancellation has been processed.