Santander mortgage holders may benefit from a base rate cut.
Some Santander mortgage customers could benefit from the recent IMF proposal to reduce the base rate.
Just recently the International Monetary Fund discussed the possibility of the Bank of England cutting the base rate from its already low level of 0.5%.
The Bank of England base rate has been stable at 0.5% for several years now, but calls for it to be reduced have been voiced.
The struggling UK economy and lenders mortgage rates have been affected by the economic crisis within the Eurozone, and some experts believe a base rate reduction could help.
A Santander mortgage that tracks above the Bank of England base rate offers an attractive deal, and if the base rate reduced further it could become even more competitive.
Santander currently have a 3 year tracker at 2.99% which tracks at 2.49% above the base rate. This mortgage is for LTV of up to 75% and has a £995 fee. A Bank of England base rate reduction could bring good news for those on a tracker mortgage and could result in a welcome repayment reduction.
For up to date and impartial advice on what is happening in the mortgage market contact Deal Direct. Our mortgage advisers search through the whole of the mortgage market for the most competitive offers and will guide you through finding the best deal available.
If you are interested in obtaining a Santander mortgage or would like a rate comparison against the wider market contact Deal Direct today.
