Santander mortgage deal launched for the NewBuy scheme.
A Santander mortgage has been launched in support of the Government's NewBuy scheme.
When the scheme was launched back in March, NatWest, Barclays and Nationwide promptly signed up to the scheme followed a few weeks later by the Halifax. At the time of the scheme launch, a NewBuy Santander mortgage was promised by the lender who advised it wanted to see how the scheme developed first.
Santander 95 per cent LTV deals for NewBuy are all offered with its Homebuyer Solution pack which includes £250 cash-back upon completion and a free mortgage valuation.
The new range includes 3 and 5 year fixed rates starting at 5.49 per cent and a 7 year fixed rate at 5.99 per cent with a low £99 fee.
Miguel Sard, who is the Abbey for Intermediaries managing director commented on the range advising that it has been designed to help first time property buyers and home movers with small deposits.
It is positive to see another lender being prepared to support the scheme. Recently those lenders already such as Nationwide who are already affiliated to the scheme, came under fire for increasing their rates so soon after products launch.
It is hoped that with another major high street lender coming forward and joining the scheme, increased competition will improve the rates offered.
If you are looking for a Santander mortgage or comparison against other lenders offers contact Deal Direct today.
