Intermediaries updates from Santander and Principality

Santander has today introduced changes to its mortgage range, increasing selected fixed and tracker rate products by 0.10% and withdrawing selected fixed rate products.

A residential two-year fixed at 70% LTV now carries a rate of 1.84% with £1999 product fee. A residential two-year tracker at 60% LTV is 1.49% with £999 product fee.

Among its Buy to Let products, a five-year fixed at 75% LTV is up 0.10% at 2.94%, with £1499 product fee.

The lender’s Buy to Let remortgage special two-year fixed, at 75% LTV, pushes up to 2.79% but carries no product fee.

A 2.5-year fixed with Help to Buy, at 75% LTV, is now 1.74% with £999 product fee, or 2.09% without.

Santander has withdrawn its residential (purchase and remortgage) five-year fix at 60% LTV, and also its first-time buyer exclusive five-year fixed at 80% LTV.

In other news, Principality Building Society has announced that, from the end of May, it will offer mortgage products for borrowers buying a new build property via the Help to Buy England scheme. Help to Buy has now assisted almost 160,000 completions to date in England.

Initially available through intermediaries only, the Society will be offering five-year fixed rates at 75% LTV with a free standard mortgage valuation.

Julie-Ann Haines, chief customer officer at Principality Building Society, said: “We hope that these products will help to support a wide range of borrowers including first-time and next-time buyers to own their home.

“We’ve responded to broker feedback by introducing Help to Buy England products to our range of intermediary mortgages. We are focused on growing our business and continually review the products that we are offering to ensure we are relevant in the market place and providing the products that clients are looking for.”

2nd May 2018