Santander have launched a fantastic fixed rate mortgage product, which is only available for 7 days. All applications have to be submitted by 8pm on November 29th 2012. This new fixed rate product is 1.99% (the overall cost for comparison is 4.3 % APR)
This mortgage product has a £1495 arrangement fee which can be added to the balance of the loan, and benefits from a free valuation for both purchases and remortgages. This is available up to 60% loan to value meaning that home owners will need 40% equity in their property or a 40% deposit for a purchase.
Early repayment charges apply to this mortgage during the fixed rate period. The early repayment charge is 3% until 02 January 2015.
WHO CAN BENEFIT FROM THIS MORTGAGE RATE?
Besides anyone who is currently looking to purchase or is currently looking for a remortgage, this mortgage could also be of benefit to anyone sat on their lenders standard variable rate, even some of the most competitive standard variable rates on the market are at a higher rate than 1.99%. Also it is possible to reserve this rate if you are approaching the end of your current deal rate with your lender. This mortgage can be applied for up to 4 months in advance which means that anyone with a deal rate ending between now and the end of March 2013 could benefit.
Contributed from Harvey Bowes,
Tel: 029 2115 6918
Web: http://harveybowes.wordpress.com/