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Santander offers new low-rate mortgages

Santander has launched a range of competitive new mortgage products and fixed-rate bonds this week, in a bid to attract new customers.

Spanish banking giant Santander is offering a selection of new low-rate mortgage products from today. Santander is the new name for Abbey, Alliance & Leicester and Bradford & Bingley.

Santander’s new range includes:

• A two-year fixed-rate mortgage at 3.44% (plus £995 fee) available up to 70% loan to value (LTV)
• A two-year tracker mortgage at 2.49% (plus £995 fee) available up to 70% LTV
• A five-year fixed-rate mortgage at 5.44% (plus £799 fee) available for purchases up to 75% LTV.

Phil Cliff, mortgage director for Santander, said: “Whether customers are looking to fix or for a tracker, now is a great time to take advantage of the low rates available.”

Santander has also introduced a new range of fixed-rate bonds this week, offering savers the chance to earn up to 3.9% if they are prepared to lock up their cash for two years.

The new mortgages and savings bonds are available in all UK Santander (previously Abbey) branches and Alliance & Leicester branches.

Chris Eagle, commercial manager at Creditchoices.co.uk, said: “Having rebranded all Abbey branches as Santander last month, the banking giant clearly wants to make its name known in the UK.

“If it wants to increase its customer base, then offering attractive products like these is a great way to do it.”