Santander offering 1.79% five-year fix remortgage rate
PLEASE NOTE THIS RATE HAS INCREASED IN PRICE - 3/3/2018
Santander is offering one of the most competitively priced five-year fix remortgage rates.
Priced at 1.79% the rate is fixed until the 02 May 2023. After the fixed period, it will revert to the lender's variable rate of 3.75%. The overall cost for comparison is 3.04% APRC representative.
There is a £999 arrangement fee and applicants will need a 40% deposit to qualify. Early repayment charges apply for the fixed rate period and the maximum loan size is £1 million.
Santander will pay for the property valuation and legal fees, and it provides interest-only mortgages to those using the sale of the property as a repayment vehicle. They will need at least £150,000 equity in their property.
The bank is currently providing mortgage offers in 9.5 days on average.
Representative example: A mortgage of £250,000 payable over 25 years, initially on a fixed rate for five years at 1.79% and then on a variable rate of 3.75% for the remaining 23 years, would require 62 monthly repayments of £1,034.26 followed by 238 monthly repayments of £1,234.65. The total amount repayable would be £359,194.82 made up of the loan amount, plus interest (£107,970.82) and fees of £999. The overall cost for comparison is 3.04% APRC representative.
The actual rate available will depend on your circumstances. Please ask for a personalised mortgage illustration.
To secure a fixed or tracker rate remortgage call Trinity on 020 7016 0790.
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