The new fee free Santander 2 year fixed rate mortgage for 85% LTV.
If you are looking for a 2 year fixed rate mortgage and you have a 15% deposit, Santander has a new deal which may be of interest.
For up to 85% loan to value Santander are offering a rate of 3.79%.
While you could achieve a slightly lower rate from lenders such as the Chelsea BS or the Post Office you need to watch out for fees.
While lenders such as the Chelsea BS offer a 2 year fixed rate mortgage at 3.39%, fees of up to £1,675 are charged.
Hefty fees can affect the affordability of even the lowest headline rates.
Perhaps Santander doesn't offer the lowest headline rate for a 2 year fix its deal, however it does come with a couple of large bonuses other lenders deals don't.
Not only is Santander's new deal fee free, but if you open at 123 current account at the same time you take out your mortgage you will receive 1% cashback on your monthly remortgage repayment.
No fee and cashback very much change the overall cost and affordability of the deal, with these benefits you may well find the deal works out far cheaper overall than products offered at more eye catching rates.
For a 'whole of market' mortgage search call an impartial adviser at Deal Direct on 0800 048 8828.
Speak to an adviser to find you the most competitive deal for your circumstances.
Call today for advice and a quote,
0800 048 8828.
