Tuesday, November 23, 2010

Santander launches new tracker mortgage

Santander is set to launch a new competitive two-year tracker mortgage available exclusively to existing current account customers.

The new product at 60 per cent loan-to-value and 2.09 per cent is available to Santander Current Account customers hoping to remortgage .

Furthermore, the new offer comes with a ?995 fee and comes with the Remortgage Solution which offers a free basic mortgage valuation .

In addition, it comes with a free basic mortgage valuation or ?250 cashback on completion.

Phil Cliff, director of Santander Mortgages, explained: "As the home of UK mortgages, our latest competitive tracker product rewards existing Current Account customers with a great rate.

He added: "Slashing the qualification criteria to three months ensures that existing Santander Current Account customers - or those who have recently switched and are looking to remortgage - can make the most of this opportunity and get a great product."

Meanwhile, Chris Horne, editor of Property Hawk, observed recently that the buy-to-let mortgage market is likely to take "several years" before it returns to its pre-recession condition.?

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