Santander launches 2.29% 10-year fix mortgage

Michael Lloyd

December 12, 2019

Santander has launched a 10-year fixed rate mortgage at 60% loan-to-value (LTV).

Priced at 2.29%, its available to remortgage customers and comes with a free valuation and no product fee, as well as £250 cashback or free legals, subject to lending area.

Rachel Springall, finance expert at Moneyfacts, said: “Santander has launched a new 10-year fixed mortgage this week, which is available to remortgage customers. Priced at 2.29%, the deal is currently the lowest rate at 60% loan-to-value and does not charge a product fee.

“A decent incentive package of free valuation, and free legal fees or £250 cashback is included, which might entice borrowers looking to save on the upfront cost of remortgaging.

“As a result, the deal earns a Moneyfacts product rating of Excellent.”

In addition, Platform has cut the rate to its 5-year fixed rate mortgage at 90% LTV by 0.03% to reach 2.31%.

It comes with a free valuation, no product fee and £250 cashback for all and free legal fees for remortgage customers.

Springall added: “Borrowers who are searching for a cost-saving incentive package and have just a 10% deposit may be intrigued by a 0.03% rate cut from Platform.

“Those comparing deals through a selected intermediary will discover that this deal includes some generous incentives and does not charge a product fee.

“The deal, priced at 2.31%, may not have the lowest rate in its sector, but it still offers a decent package. As a result, it earns a Moneyfacts product rating of Outstanding.”

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