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Santander launches Help to Buy mortgages

Santander launches Help to Buy mortgages

Category: Mortgages

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Santander has unveiled its range of mortgage products available as part of the Government's Help to Buy scheme.

Available to borrowers purchasing new build properties via intermediaries, the range of fixed and variable tracker rate Help to Buy Equity Loan mortgages all include a free valuation and £250 cashback designed to assist with the cost of buying a new home.

The products, which are all available up to 75% loan-to-value, and would be part financed up to a maximum 20% by an equity loan from the Homes and Communities Agency include:

Customers who make their monthly mortgage repayment via a direct debit payment from their Santander 123 Current Account will also be eligible for 1% cashback on maximum monthly mortgage payments of £1,000.

The three products offer fixed rates of 3.29% for two years and 3.49% for five years and a variable tracker rate of 3.29%.

Phil Cliff, director of Mortgages at Santander, said: "Santander is delighted to be joining the Government's Help to Buy Equity Loan scheme, which we believe will play an important role in helping both first time buyers and homemovers looking to buy new build properties.

"Our new Help to Buy range offers competitively priced products with no upfront booking fees, extending the affordable housing options we can offer to customers who have a deposit from 5%; where they can also choose from our range of NewBuy and Shared Ownership 'exclusive' mortgages."

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