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Santander launches direct-only five-year fix at 2.99%

Santander has launched a direct-only five-year fixed rate mortgage at 2.99 per cent up to 60 per cent loan-to-value.

The product is only available to customers existing current account and mortgage customers.

The lender has also launched new three- and five-year fixed rates available up to 60 per cent LTV for intermediaries.

The three-year fix is available for 2.99 per cent and a £1,495 fee and the five-year product is available for 3.49 per cent, also for a £1,495.

Both products are available to purchase and remortgage customers.

The two products are available to selected key account partners, including Intrinsic, Tenet, Sesame Bankhall, Countrywide, SimplyBiz, LSL and London & Country.

Abbey managing director Miguel Sard says: “We are very pleased to support the intermediary market with these market-leading deals, which are available exclusively through selected Key Account partners. We expect these great rates to be very well received by borrowers looking for the peace of mind of a fixed rate deal in today’s challenging market conditions.”

Last week, HSBC launched a five-year fixed rate up to 60 per cent LTV at 2.99 per cent.

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