New fixed rates and 30 min remortgage service now on offer

Santander is offering a 30-minute remortgage service, while Skipton and Accord have launched new fixed rates and Foundation Home Loans cuts the rates on its buy to let mortgage products by 0.8%.

The new service gives borrowers an instant decision on their mortgage and can be used from the comfort of their own home. Applications can even be saved and resumed when a customer chooses.

The facility has access to Santander’s full mortgage range and also allows for supporting documents to be uploaded immediately. Customers are kept up to date on the progress of the application via email.

The lender has also launched the following exclusive residential products through the system: a 60% loan-to-value (LTV) two-year fixed rate loan with a £995 product fee, and a 60% LTV five-year fix with a £995 fee.

Skipton Intermediaries has launched a suite of intermediary exclusive deals, available for purchase and remortgage.

The details of the new two-year fixed deals are as follows: a two-year fixed to 60% LTV is available for purchase and remortgage, a two-year fixed to 75% LTV is available for purchase and remortgage and a two-year fixed to 80% LTV is also available for purchase and remortgage.

Purchase deals come with free valuations/£300 cash back and no completion fee, while Skipton’s remortgage deals comes with free valuations/free legals and no completion fee.

Borrowers with a 25% deposit can take advantage of Accord Mortgages’ new 10-year fixed rate mortgage.

The new mortgage offers a fixed rate of 2.88%(5.5% APR), which can be ported to another property, should the borrower move house during the ten-year period.

The mortgage comes with an £845 fee and is available for house purchase or remortgage.

Buy to let lender, Foundation Home Loans (FHL) has taken on board feedback from intermediaries and has revised its criteria and cut the rates on its buy to let products by 0.8%.

The lender has chosen to move to a fixed percentage of the loan amount as an administration fee, so as to simplify its criteria. For example, the arrangement fees on its new products are now set at 2%, regardless of the loan size.

Reflecting the new rate cut, its Light Adverse five-year fixed mortgage is now at 4.39%(5.4% APR), with a maximum LTV of 70%.

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