Mortgage bulletin – New ‘best buy’ fixed-rate home loans available

Clydesdale and Yorkshire Banks have announced the release of a two-year fixed-rate mortgage with no arrangement fee, while Santander has cut rates on a range of its mortgages.

The 2.99% loan from Clydesdale and Yorkshire will be available until 11th November 2012 and has an upper loan-to-value (LTV) limit of 65%. It is one of the lowest rates available today on loans that do not have an arrangement fee attached.

Steve Reid, retail director for Clydesdale and Yorkshire Bank, says: "Over the past six months we have continued to provide mortgage hunters products that offer Best Buy rates combined with arrangement fee savings. These products have received an overwhelming response from the public, as they are designed to help people find the right mortgage to suit their individual needs and their pockets. This latest mortgage offer is available until mid-November, and we anticipate an even greater uptake from those who want to take advantage of this saving."

Meanwhile, Santander has knocked up to 0.20% off some of its fixed and tracker mortgages for first-time buyers, home movers and remortgagers. For example, its 70%-LTV, two-year fixed- or tracker-rate loan has been cut to 2.79% and comes with a £995 fee. It has reduced its 85%-LTV first-timer buyer loan on a three-year fix, with a fee of £99, by 0.10% to 4.79%.

Phil Cliff, director of Santander Mortgages, says: "Our new two-year fixed at 2.79% and 70% LTV is market leading whilst our competitive new 3.19% five-year at 60% LTV is available to all homebuyers and remortgagers. We're always looking to help customers get on or move up the property ladder and these rates cuts demonstrate our continued commitment to the mortgage market."

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