Santander launches Help to Buy mortgage range

Aaron Strutt Image
Santander for Intermediaries has entered the Help to Buy Equity Loan market by launching a range of mortgages specifically designed for the Government's housing incentive. Not all of the banks and building societies are offering Help to Buy mortgages although more of them are signing up as it starts to get more popular. Together with the Government five year interest free equity loan of up to 20% of the property value, borrowers can potentially purchase a newly built property in England with as little as a 5% deposit. To raise the rest of the funds to buy the property, Santander can lend up to 75% of the property value. Their two-year fixed rate mortgages start at 3.29% and the five year fixed rate is slightly more expensive at 3.49%. For more information about the scheme please click on the Gov.uk website: https://www.gov.uk/affordable-home-ownership-schemes/help-to-buy-equity-loans July 26, 2013
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