By Romesh Navaratnarajah: Santander UK plc, one of the largest mortgage providers in the UK, has introduced a five-year fixed rate mortgage of 2.99 percent exclusively for current account and loyal mover customers.
The loan is offered with a £1,495 (S$2,944) fee and is for purchases and remortgages of borrowers with a 40 percent deposit and mirrors HSBC's 2.99 percent five-year fixed-rate loan.
To qualify, borrowers should be an existing current account holder for at least 30 days during the time of application or have already acquired a mortgage and are moving house. Clients who are not account holders can still take advantage of a competitive 3.49 percent five-year fixed rate.
"It's really exciting to be able to offer exclusively our existing current account and loyal mover customers such a low mortgage rate giving them peace of mind for the next five years. As one of the major lenders in the UK, we're doing our bit to help customers even in tough market conditions," said Phil Cliff, Director of Santander Mortgages. Related Stories: Aussies changing how they shop for mortgages
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