Santander set to lend £25bn in 2014

Aaron Strutt Image

Santander is set to increase its mortgage lending to £25bn next year and break back into the top three lenders. This is according to a report in Mortgage Strategy magazine.

Over the last few years the Spanish banking giant has been shrinking its balance sheet as part of a planned reduction in mortgage lending, but they are set to make a strong return. Santander has been regarded as one of the top mortgage lenders for a number of years, but during 2012 the bank only advanced £14.6bn to borrowers. This represents a 38% fall compared to 2011, when it lent £23.7bn.

Aaron Strutt, product manager at Trinity Financial, says: "Santander is still offering some of the lowest fixed rates particularly if you are looking to take part of the mortgage on an interest-only basis".

Their most competitively priced two-year fixed rate is 2.04% and it has a £995 arrangement fee. Borrowers will need a 40% deposit to access this rate and the maximum loan size is £1 million.

If you would help to secure a best buy mortgage, call us on 020 7016 0790.

September 27, 2013

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