Santander to offer 95% Help to Buy 2 mortgages
The lender will offer a two-year fixed rate at 4.99%, a two-year tracker at 4.99% and a five-year fix at 5.49%, all available up to 95% LTV. The mortgages come with no fees attached, and will be availablle in branches, over the phone and through mortgage advisers.
Santander said it already offers mortgages up to 90% LTV so would not use the Help to Buy scheme for sub-90% LTV products.
The lender also takes part in the Help to Buy equity loan scheme and Miguel Sard, head of mortgages at Santander, said both phases of the scheme were boosting the market.
“We’re pleased to be joining the second phase of the government’s Help to Buy scheme.
“The first phase of the government’s Help to Buy scheme has already helped improve the flow of credit to good quality customers, and played an important role in helping both first-time buyers and homemovers looking to buy new build properties.
“This has seen a welcome return of some confidence back into the market. Santander is committed to helping consumers get on, and move up, the property ladder, and our new Help to Buy mortgage guarantee range is the latest addition to our competitively priced range of products.”