Santander reveals new first time buyer mortgages

Tuesday, 24 April 2012 10:52

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Santander has unveiled a range of first time buyer mortgages, aimed at helping people take their first step on the property ladder.

The new selection includes an 85 per cent loan to value (LTV), three year fixed rate mortgage at 4.89 per cent and a 90 per cent LTV, five year fixed deal at 5.99 per cent.

Both of these mortgages have a £99 fee instead of the usual £495 or £995 standard fee, the lender said.

All products come with the Homebuyer solution as standard which includes free valuation and £250 cashback on completion, designed to help customers with the upfront costs of purchasing a property.

Phil Cliff, director of Santander Mortgages said people currently looking to buy their first home face a tough time against the backdrop of a sluggish property market.

“Now that the stamp duty holiday has ended, first time buyers are finding it even harder,” he said.

“Our new range of mortgages is designed to help them, with very low fees and some of the most competitive rates available.”

 

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