Santander launches 2.5 year fixes for new-build properties
Santander for Intermediaries has launched a range of new-build fixed rate mortgages with extended completion deadlines.
A longer term fixed rate mortgage is useful if the build overruns or the project is delayed, particularly as other lenders are not particularly flexible when it comes to amending mortgage offers.
Santander has also set up a “New Build Desk” for mortgage brokers to work with if their clients are purchasing a new-build property.
The lender's lowest two-year fixed rate is 2.04% and it is available for borrowers with a 25% deposit. The overall cost for comparison is 4.3% APR.
It has a £995 arrangement fee and after the fixed rate period the mortgage will revert to the lenders standard variable rate, currently 4.74%.
Earlier this month Skipton for Intermediaries launched a range of specific new-build mortgages. Click here to view the story.
If you would like help to secure a new-build mortgage, call Trinity on 020 7016 0790.
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