Santander offering 3.84% two-year fix remortgage rate
Santander for Intermediaries is offering some of the most competitively priced two and five-year fixed-rate remortgage deals.
The lowest rate is 3.84% fixed until 02 October 2027 and it is available for mortgages up to £3 million. Santander's five-year remortgage fix is just 0.03% more expensive.
These rates have £999 arrangement fees and applicants will need 40% equity in their property to qualify.
Aaron Strutt, product director at Trinity Financial, says: "More banks and building societies have been lowering their remortgage rates over the last few weeks, so they are looking better value for money. While there are lots of sub-4% rates available at the moment, the market does fluctuate, so it makes sense to secure a deal if you see a good one, especially as lenders do not typically notify customers when rates are going to be withdrawn.
"HSBC has lowered its rates three times in just over a week, while Barclays and Halifax have also lowered their prices. With £147bn worth of mortgages coming up for renewal between now and December, this latest round of rate cuts will come as welcome news for homeowners needing to remortgage."
Representative example: A capital and interest Santander mortgage of £500,000 payable over 30 years, initially on a 3.94% fixed rate for 02 October 2027 and then on a variable rate of 6.75% for the remaining 25 years, would require 25 monthly repayments of £2,339.26 followed by 335 monthly repayments of £3,188.86. The total amount repayable would be £1,128,158.35.
This amount is illustrative and may vary, made up of the loan amount, plus interest (£629,612.20) and £999 (product fee), £225 (final repayment charge), £25 (completion fee). The overall cost for comparison is 6.4% APRC representative.
Call Trinity Financial on 020 7016 0790 to secure a remortgage or book a consultation
The information contained within was correct at the time of publication but is subject to change.
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