Boost for First Time Buyers and Existing Customers From Santander
LONDON, April 8, 2013
LONDON, April 8, 2013 /PRNewswire/ --
*Reduced rates on Shared Ownership mortgage products
*New deals for existing mortgage customers moving home and existing current
*Reductions across Fixed Rate and Tracker products
*All with effect from Tuesday 2 April 2013
Santander is demonstrating its continued commitment to helping first time
buyers get a foot onto the property ladder by offering reduced rates for
shared ownership customers. The new deals mean that customers with mortgages
from Santander can borrow up to 95 per cent loan to value (LTV) on between a
25 and 75 per cent share of the property.
Santander is building on its partnership with affordable housing providers to
help support shared ownership. Borrowers make monthly repayments on the share
of the property purchased and subsidised rent on the share they don't own to
the Housing Association. Santander is the only mainstream lender to support
the Shared Ownership market with a 95% LTV product.
Santander is introducing a number of new deals for existing customers. These
*a range of Fix and Tracker discounted rates for existing mortgage
customers moving home
*a new 70% 2-year fix with a discounted rate and £995 fee for existing
current account customers who are looking to move home or remortgage their
In addition, Santander is also reducing rates on key Fixed Rate and Tracker
products for new business homebuyer and re-mortgage deals.
Phil Cliff , Director of Santander Mortgages, said: "Shared ownership
helps first time buyers get a foot on the property ladder and plays a vital
role in supporting the creation of more affordable housing across the UK.
Santander is committed to supporting the UK housing market by providing
innovative products. Whilst housing market conditions may not have improved
overall, mortgage rates remaining low does help homebuyers."
The information contained in our press releases is intended solely for
journalists and should not be used by consumers to make financial decisions.
Notes to Editors
New 2yr Fix - 60%, 2.29% with £995 fee, for HomeBuyers & Re-mortgages
2yr Fix - 75%, 3.44% No fee, for HomeBuyers & Re-mortgages
2yr Fix - 80%, 3.24% £995 fee, for HomeBuyers & Re-mortgages
2yr Tracker - 70%, 2.44% £995 fee for HomeBuyers & Re-mortgages
2yr Tracker - 70%, 2.99% No fee, for HomeBuyers & Re-mortgages
2yr Tracker - 75%, 2.79% with £995 fee, for HomeBuyers & Re-mortgages
2yr Tracker - 75%, 3.29% No Fee, for HomeBuyers & Re-mortgages
Existing customer exclusives:
New 2yr Fix - 70%, 2.39% with £995 fee - Current Account Exclusive*
New 2yr Fix - 75%, 2.74% with £995 fee, for Homebuyers - Existing Mover
New 5yr Fix -75%, 3.34% with £995 fee, for Homebuyers - Existing Mover
New 2yr Tracker -75%, 2.74% with £995 fee, for Homebuyers - Existing Mover
* Must be an existing Current Account holder who has held the Current Account
for a minimum of 30 days and the mortgage Direct Debit must be paid from it.
Santander UK plc is a full-service retail and commercial bank providing
services to 25 million customers, with almost 1,200 branches and 35 regional
business centres. It is a wholly owned subsidiary of Banco Santander.
Santander UK plc manages its affairs autonomously, with its own local
management team, responsible solely for its performance. Santander UK is
firmly focused on the UK with c. 99% of customer assets UK-related and c. 85%
of customer loans consisting of prime residential mortgages to UK customers.
The total balance sheet remains UK focused, with a minimal net exposure after
collateral to eurozone periphery countries only amounting to c. 0.4% of total
assets. Santander UK is subject to the full supervision of the Financial
Services Authority (FSA) in the UK. Santander UK plc customers are protected
by the Financial Services Compensation Scheme (FSCS) in the UK.
Banco Santander (SAN.MC, STD.N, BNC.LN) is a retail and commercial bank,
based in Spain, with a presence in 10 main markets. Santander is the largest
bank in the euro zone by market capitalization. Founded in 1857, Santander had
EUR 1.388 trillion in managed funds, 102 million customers, 14,392 branches -
more than any other international bank - and 187,000 employees at the close of
2012. It is the largest financial group in Spain and Latin America. It also
has significant positions in the United Kingdom, Portugal, Germany, Poland and
the northeast United States. Santander had a pre-provision profit of EUR
23.559 billion in 2012, an increase of 2% from the previous year.
Contact: Media Enquiries : Ali Rolls, Tel: +44(0)20-7756-4518, Nicola Hussey,
Tel: +44(0)20-7756-4209, Mobile: +44(0)7920-700-732, The press office operates
from 8.00am to 6.00pm. Outside of these hours please call 0800 5877708.
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