Mortgage bulletin – Santander slashes NewBuy mortgage rates

Date:

Friday 3rd August 2012

Author:



Santander now offers a market-leading three-year NewBuy mortgage

Major lender Santander has announced that with immediate effect, it is cutting interest rates on its range of fixed-rate NewBuy mortgages. This is excellent news for homeowners and first-time buyers with only 5% to put down on a new home who want to use the government-backed NewBuy scheme to secure a new-build property in England up to the value of £500,000.

The new rates are available through Abbey for Intermediaries and can be used to purchase an array of apartments and houses for sale at developments from Barratt Homes, Berkeley Homes, Bovis Homes and Persimmon Homes. Each has a maximum loan-to-value of 95% and comes with a fee of only £99, offers free valuation and the bonus of £250 cash back at a time when every penny counts for homebuyers.

The new rates, available from 3rd August 2012, are:

  • Three-year fix reduced by 0.50% to 4.99%
  • Five-year fix reduced by 0.20% to 5.29%
  • Seven-year fix reduced by 0.70% to 5.29%

"These NewBuy product rate reductions demonstrate Santander's continued commitment to helping customers get on the housing ladder, says Phil Cliff, Director of Santander Mortgages. "Our three-year fixed is now a market leading 4.99% while our five- and seven-year fixed remain highly competitive at 5.29%. This reduction in rates, coupled with low upfront fees of £99, makes our NewBuy mortgage range the best-value products available exclusively via the intermediary market."

Click here to find out more about how whathouse.co.uk can help you find the right mortgage.

 

New Homes by Bovis Homes

Church Meadows
NOW AVAILABLE from £199,995
Church Meadows is found in the heart of the Worcestershire village of Catshill, just a few miles from Bromsgrove and less than 15 miles from...
College Gate
NOW AVAILABLE from £176,995
College Gate in Oldbury offers an excellent selection of two, three, four and five bedroom homes. College Gate has good public transport close by,...
Eden Park
NOW AVAILABLE from £249,995
This attractive new development in the historic market town of Rugby is less than two miles from the town centre with its bustling pubs, shops and...
Harrison Park
NOW AVAILABLE from £349,995
CALL TODAY FOR AN APPOINTMENT TO VIEW THESE SUPERB BRAND NEW 5 BEDROOM HOMES! APPOINTMENTS AVAILABLE 7 DAYS A WEEK Harrison Park is found in the...
Nether Hall Park
NOW AVAILABLE from £154,995
_____________________________________________________________________ THE WEDGEWOOD - LAST REMAINING BRAND NEW 6 BEDROOM HOME AT NETHER HALL PARK THE...
Stratford Leys
NOW AVAILABLE from £369,995
A development in conjunction with Gallagher UK Limited AN EXCITING RANGE OF FOUR AND FIVE BEDROOM HOMES!...