Santander revises mortgage range

From today, two tracker mortgages available from Santander and Alliance & Leicester branches will be reduced. The new deals are as follows:

• 2.63% 70% LTV 2-year tracker with a £995 fee (remortgage)
• 2.89% 75% LTV 2-year tracker with a £995 fee (remortgage and homebuyer)

For existing current account customers, Santander is launching an 85% LTV 4-year fix at 4.99% with a £995 fee for remortgage and purchase. This extends the range of offers the lender has for these customers in Santander and Alliance & Leicester branches and on the telephone including a 90% LTV 3-year fix at 5.99% and a 2-year fix at 75% LTV at 3.89%. This is a part of Santander's strategy to reward existing customers.

Also launching on today, is a new fee-free 3-year tracker at 3.29% up to 75% LTV, available for purchase or remortgage.

These changes come hot-on-the-heels of changes made just last week, where Santander reduced the rate on some of its 2-year fixes by up to 0.4%. The new rates are:

• 4.99%, 2 year fix with a £995 fee up to 80% LTV (remortgage)
• 4.99%, 2-year fix with a £995 up to 80% LTV (purchase)

Phil Cliff, mortgage director for Santander, commented: "For the third consecutive week, we have reduced mortgage rates. We want to offer our customers competitive rates and a good variety of products and the latest changes to our range are no exception."