Santander UK has announced that, from next Tuesday 6th May, it is introducing more than 50 new mortgage products to its on-sale range.
The new products include 43 new build specific mortgages with a range of 60% to 95% loan-to-value (LTV), 2- and 5-year fixed rates, as well as two-year tracker rates.
Cashback of £250 is also being introduced for new build products from 85% LTV up to 90% LTV for first-time buyers and 95% LTV for home movers.
Among the new fixed-rate offerings for home movers are competitive 2- and 5-year deals at up to 95% loan-to-value (LTV).
These include a 60% LTV two-year fixed rate at 3.89% with a £999 fee, and a 60% LTV 5-year fixed rate at 3.92%, also with a £999 fee.
For those with smaller deposits, a 95% LTV 5-year fixed rate is available at 4.90%, featuring no product fee and a £250 cashback incentive.
Similarly, an 85% LTV 5-year fixed rate is being offered at 4.28% with a £999 fee and £250 cashback.
First-time buyers are also being targeted with attractive new fixed-rate deals, including a 60% LTV 2-year fixed rate at 3.94% with a £999 fee.
Higher LTV options include an 85% LTV 2-year fixed rate at 4.29% with a £999 fee and £250 cashback, and a 95% LTV 5-year fixed rate at 4.99% with no fee and £250 cashback.
Santander’s updated tracker mortgage options for new builds are available to both home movers and first-time buyers.
Home movers can access a 60% LTV 2-year tracker rate at 4.64% with a £999 fee, a 75% LTV tracker at 4.90%, also with a £999 fee, and a 90% LTV tracker at 5.54% with no fee.
First-time buyers can choose from a 60% LTV 2-year tracker at 4.69% with a £999 fee, a 75% LTV tracker at 4.95%, and a 90% LTV tracker at 5.59% with no fee.
In addition, Santander has introduced a range of new 3-year fixed rate products, again catering to both home movers and first-time buyers.
These include an 85% LTV 3-year fixed rate at 4.49% with a £999 fee and £250 cashback, a 90% LTV option at 4.75% with the same fee and cashback, and a 95% LTV 3-year fixed rate at 5.23% with no fee and £250 cashback.
Graham Sellar, Head of Santander for Intermediaries, said: “There’s a renewed focus on the new build market spurred on by the Government’s ambition to create 1.5 million new homes, in part through new towns.
“We’re pleased to bolster our new build offering, alongside new three-year fixes and broad reaching rate reductions, to support our brokers and customers access more options to help them on their homeownership journey.”
