The range includes products with a choice of features including no booking fees, no ERC, overpayment options and cash-back giving customers the freedom to choose the right mortgage to meet their needs.
The initial ERC free products are:
- ERC free Lifetime Tracker with a rate of 2.49% and £495 fee, available up to 75% LTV
- ERC free two-year fix with a rate of 2.84% and £995 fee, available up to 75% LTV
- ERC free three-year fix with a rate of 3.29% and £995 fee, available up to 75% LTV
- ERC free Flexi Offset with a rate of 3.59% and £495 fee, available up to 75% LTV
Phil Cliff, Director of Santander Mortgages, said:
"As one of the UK's leading lenders, Santander wants to be front of mind for all homebuyers. Great rates, great value and great service have always been at the heart of what we do. We're re-launching our mortgage product range designed to give our customers the freedom to choose a mortgage that has features to meet their needs now and in the future.
"Our ERC-free range offers customers freedom not normally associated with mortgage products. Our 2 and 3 year fixed rates provide customers with the stability of knowing what their monthly payment will be but with the added freedom of being able to overpay and flexibility to switch to another mortgage dependent on their needs or change in circumstance, with no additional fees attached. Alternatively customers can also benefit from being ERC-free with our market-leading Lifetime Tracker at 2.49% and our Flexi Offset at 3.59%, both up to 75% LTV.
"New mortgage regulation will come into force next April bringing with it new requirements around mortgage affordability. The regulation is designed to protect customers and ensure they get a mortgage they can afford. Santander new mortgage range complements this, putting our relationship with our customers at the heart of our business and ensuring they get the right mortgage for them - one they can afford and which meets their needs."
