In a time where most banks are increasing the interest rates and longevity of mortgages, Santander is breaking the mold by decreasing the rates of mortgages in 2018. They are lowering rates for lenders by anywhere from .03-.1% which is quite a dramatic difference when you consider the annual mortgage payments that are made by the average homeowner. Santander is certainly standing out to potential home-buyers as well with such attractive mortgage rates in their midst.
- Those who obtain new mortgage loans can expect to pay anywhere from 0.3-.1% less than previous rates.
- Most lenders have been seeing an increase in contract rates and lengths, so Santander is certainly breaking the mold.
- The cuts will significantly impact those who have homes worth more than three million.
“Santander has revealed new mortgage deals available to customers, both purchasing and remortaging with the bank, including rate reductions of up to 0.3 percentage points on existing five year fixed rate deals and 0.2 percentage points on existing two year fixed rate deals.”
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