Santander has reduced the rate on its five-year fixed rate deal by 0.50%, earning it a place among the Moneyfacts best buys as well as a five-star review.
This mortgage has a rate of 2.89% fixed until 02.02.20 at a loan-to-value (LTV) of 75%. This is the lowest rate at this term and ensures that this deal sits just below the market-leader in the five-year sector. A competitive fee of £995 is payable.
This deal is available to first-time buyers, home-movers and remortgagors with a 25% deposit. Borrowers can benefit from an incentive package of free valuation (up to £1,190) and a £250 rebate, while remortgagors can benefit from free legal fees.
Borrowers are offered some degree of flexibility over their repayments with the option to make overpayments of up to 10% of the outstanding balance every year.
This mortgage possesses the lowest rate for its term and also comes with a wide-ranging incentive package that is sure to appeal to borrowers with the right deposit. The fee is also competitive and ensures that this mortgage will appeal to those who are trying to keep their set-up costs down.
The highest accolade of five Moneyfacts Stars has been awarded.
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