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.
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.
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.
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 Any products featured may be withdrawn by their provider or changed at any time.
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