‘Outstanding’ Help to Buy mortgage | Product News - Moneyfacts

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‘Outstanding’ Help to Buy mortgage

‘Outstanding’ Help to Buy mortgage

Category: Mortgages
Date: 21/04/2015

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Santander has reduced the rates of selected fixed products by up to 0.40%. One of the deals to receive the maximum reduction was the two-year fixed Help to Buy mortgage, which has been awarded the highest accolade as a result.

The basics…

This mortgage now has a highly competitive rate of 4.49% fixed until 2.7.17, which allows it to sit just below the current market-leader in the sector. It is available at a loan-to-value (LTV) of 95% and has absolutely no product fees.

The finer details…

As part of the Help to Buy scheme, this mortgage is only available to house puchrase customers with a modest deposit of 5%. As an added bonus, an incentive package of fee valuation (max £1,190) is available to all borrowers.

In terms of repayment options, borrowers have the opportunity to make overpayments of up to 10% of the outstanding balance.

Why we like it…

For borrowers looking at the Help to Buy guarantee to secure their dream home, this updated offer is likely to garner a lot of attention. A highly competitive rate, combined with the added bonus of free valuation fees, makes this a very cost-effective option for borrowers with only a modest deposit. This is an outstanding product that fully deserves the highest Moneyfacts rating.

Moneyfacts rating: Outstanding

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 
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