The news coincides with Santander UK’s announcement that it has increased its mortgage lending by 30%, from £14 billion in 2012 to £18.4 billion in 2013.
Santander launched its range of 95% LTV Help to Buy: mortgage guarantee products on 9 January 2014. In the three weeks since launch, Santander for Intermediaries has approved over 850 Help to Buy applications from homebuyers across the UK.
The first Help to Buy: mortgage guarantee completion was facilitated by mortgage intermediaries Your Move, part of LSL Property Services plc, who agreed a two year fixed rate at 4.99% with Santander for Intermediaries for its client.
Brad Fordham, Managing Director of Santander for Intermediaries, said:
“There’s been a huge response to our new Help to Buy products, with over 850 applications already in the pipeline, so it’s great to be announcing our first completion so soon – in just three weeks – with many more to come. Santander for Intermediaries is focused on offering great service and writing quality business, helping our intermediary partners help their clients. These latest developments, coupled with our year end figures which has seen an increase of almost £4.5 billion in our mortgage lending, should make it clear that we’re open for business.”
David Newnes, Director of estate agents, Your Move, said:
“We are delighted to have helped yet another First Time Buyer in securing a mortgage, this time through Santander. The whole process proved so easy and with Santander offering such an attractive Help to Buy deal it became clear that we were going to be able to support the buyer very quickly – in the end within just three weeks of them seeing the property they are now buying. Overall a great success story for all concerned and one we hope to replicate, across our UK network of branches, in the weeks and months to come."
