Santander for Intermediaries has launched a super-cheap five-year fix remortgage rate.
The mortgage is priced at 1.39% and it is fixed until 2 April 2025. Once the deal expires, it reverts to the lender’s 4% standard variable rate. The overall cost for comparison is 3.1% APRC representative.
There is a £1,499 arrangement fee, and applicants will need a 40% deposit to qualify. The maximum loan size is £1.5 million.
Aaron Strutt, product director at Trinity Financial, says: “More of the lenders are offering sub-1.5% five-year fixes and they are available for property purchases and remortgage.
“Santander is currently taking an average of 12 days to produce a residential mortgage offer.”
If you are purchasing a property Santander’s five-year fix increases by 0.10% but the fee reduces to £999. There is also a free basic property valuation.
Call Trinity Financial on 020 7016 0790 to secure a mortgage