5 year Fixed Rate Mortgage 1.79% - No Fees @ Santander
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5 year Fixed Rate Mortgage 1.79% - No Fees @ Santander

193
Found 18th Sep 2017
Just seen this deal from Santander:

5 year Fixed Rate Mortgage 1.79% - No Fees

Maximum LTV is 60%

Seems to be the best rate (currently) for a 5 year term without a product/booking fee.
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Top comments
KFH200923 m ago

Is this for existing customers? I believe we can search for a new deal …Is this for existing customers? I believe we can search for a new deal from 3rd October. We fixed part of ours a few months ago at 2.09% so this would be great for the 2nd part of the mortgage!


Just spoken to Santander myself as an existing mortgage customer of theirs on SVR looking to move to a new product. The offer of 1.79% for 5yrs with no fee is only available to those moving their mortgage from another provider to Santander.

The lowest I was offered (currently having a below 60% LTV) is 2.09% for 3 or 5yrs with no fee, or a 2yr fixed @ 1.59%.
193 Comments
Nice, the rates will rise soon, Nationwide already put up their rates for 5 year fixes.
heat!!!
These rates just getting better and better heh I thought my 2.23% was good one year ago so I'm fixed for 5 years - could have saved 100£ a month with this.

Good luck all
Stonking deal!!!!!!
So my current Santander fix will end in 12 months - odds of them letting me switch to this one so that I am locked in with them again rather than looking for the best deal on the market = zero.

Which comes as a warning, think very carefully about early repyment charges if taking a Santander fixed rate.
cikki10020 m ago

Nice, the rates will rise soon, Nationwide already put up their rates for …Nice, the rates will rise soon, Nationwide already put up their rates for 5 year fixes.



Will be using a MIB soon (hopefully) and sod law decrees when we do it will go up, what with the jitters of interest hike being muted sending pound up . That's after years of nearly flat interest on savings.
I could only find the one fixed 5 yrs at 1.79% with £999 product fee
Good find! I was looking at this one which may work out a better deal for some as they're valid with an 80% LTV. 1.55% fixed for 5 years but with a 'reasonable' £499 fee. Just make sure you switch the deal ends though as their SVR is pretty terrible.

Still got 1 year left on mine before I can switch though :-(

leedsbuildingsociety.co.uk/mor…tv/
Edited by: "chutuk" 18th Sep 2017
Amazing deal.

I just wish my LTV was at 60%...
lianghe198418 m ago

I could only find the one fixed 5 yrs at 1.79% with £999 product fee


Same edit found it
Edited by: "the.porter" 18th Sep 2017
I just switched mine from one Santander product to another which is fixed for two years at 1.49%
Question for the smart folks.

If I had a mortgage that had 10 years left, but it was very small and where I could easily pay twice as much, could I sign up to this offer and have Santander set the term of the mortgage to 5 years so I could enjoy the fixed rate term?
vraxxos12 m ago

Question for the smart folks. If I had a mortgage that had 10 years left, …Question for the smart folks. If I had a mortgage that had 10 years left, but it was very small and where I could easily pay twice as much, could I sign up to this offer and have Santander set the term of the mortgage to 5 years so I could enjoy the fixed rate term?


Minimum mortgage amount is £25,000 for this product. If you have less than this outstanding you will be unable to move to this product.
Sorry where exactly is this deal to be seen!?
Deal doesn't exist. £999 fee. Also with 5% ERC + legal fees. First deal posted by 2Good2Btrue, hmm....
It says "Product fee £999" when I've looked, not sure if this is for everyone?
Is this for existing customers? I believe we can search for a new deal from 3rd October. We fixed part of ours a few months ago at 2.09% so this would be great for the 2nd part of the mortgage!
chutuk55 m ago

Good find! I was looking at this one which may work out a better deal for …Good find! I was looking at this one which may work out a better deal for some as they're valid with an 80% LTV. 1.55% fixed for 5 years but with a 'reasonable' £499 fee. Just make sure you switch the deal ends though as their SVR is pretty terrible.Still got 1 year left on mine before I can switch though :-(http://www.leedsbuildingsociety.co.uk/mortgages/discounted-rate-mortgages/fees-assisted-5-year-discount-rate-mortgage-80-ltv/



Discount not fix
First time buyer here. These LTV are scary.
Being at an age where a house I buy will have to be one for almost rest of my life. It's scary how much I am going to need as a deposit.

Seems that 25% is what's needed for any decent rate. Avg house being around £250k that's 62.5k plus fees etch. Prob need to save around 65-67k and that's without costing for furnishings.
Gonna go cry and by myself another lotto ticket ;o(
This is great and all, but at 60% LTV and the average house price in London being 650k, that implies you need a 260k deposit. Who in the heck has that?? What a sorry state of affairs the housing market has become.
Virtual.Insanity5 m ago

Deal doesn't exist. £999 fee. Also with 5% ERC + legal fees. First deal …Deal doesn't exist. £999 fee. Also with 5% ERC + legal fees. First deal posted by 2Good2Btrue, hmm....


So Instead of Fake news .. Now it's Fake deals
Virtual.Insanity10 m ago

Deal doesn't exist. £999 fee. Also with 5% ERC + legal fees. First deal …Deal doesn't exist. £999 fee. Also with 5% ERC + legal fees. First deal posted by 2Good2Btrue, hmm....


Press the 'Show More' button. It is there. You have probably not put a figure in that is equal of less than 60% of property value.
gary3331 m ago

Press the 'Show More' button. It is there. You have probably not put a …Press the 'Show More' button. It is there. You have probably not put a figure in that is equal of less than 60% of property value.


Bang to rights. I had put in the 60% LTV but hadn't hit show more. Why would anyone choose the one with £999 product fee then?
Apologies to 2Good2BTrue!
3ak1 h, 44 m ago

These rates just getting better and better heh I thought my 2.23% was good …These rates just getting better and better heh I thought my 2.23% was good one year ago so I'm fixed for 5 years - could have saved 100£ a month with this.Good luck all


Could have saved £100pm... how much interest are you paying pm?!!
Virtual.Insanity22 m ago

Deal doesn't exist. £999 fee. Also with 5% ERC + legal fees. First deal …Deal doesn't exist. £999 fee. Also with 5% ERC + legal fees. First deal posted by 2Good2Btrue, hmm....


I think you are mistaken, I don't need a mortgage, but I was curious so I just had a look and easily found the product (under moving your mortgage to Santander). There are a number of similar products listed, some with and some without application fees - I suspect the best of these are reserved for the lowest risk customers (with good and secure incomes and considerable capital).
KFH200923 m ago

Is this for existing customers? I believe we can search for a new deal …Is this for existing customers? I believe we can search for a new deal from 3rd October. We fixed part of ours a few months ago at 2.09% so this would be great for the 2nd part of the mortgage!


Just spoken to Santander myself as an existing mortgage customer of theirs on SVR looking to move to a new product. The offer of 1.79% for 5yrs with no fee is only available to those moving their mortgage from another provider to Santander.

The lowest I was offered (currently having a below 60% LTV) is 2.09% for 3 or 5yrs with no fee, or a 2yr fixed @ 1.59%.
SavB24 m ago

This is great and all, but at 60% LTV and the average house price in …This is great and all, but at 60% LTV and the average house price in London being 650k, that implies you need a 260k deposit. Who in the heck has that?? What a sorry state of affairs the housing market has become.


I see your point, but I don't think this is anything new, the numbers are just different. When I bought my first house in the 1980s houses could still be had in London for £125,000, but interest rates were 12-15%, the capital supply was limited and in practice one needed a large deposit to get a mortgage at all.
mywife5 m ago

Just spoken to Santander myself as an existing mortgage customer of theirs …Just spoken to Santander myself as an existing mortgage customer of theirs on SVR looking to move to a new product. The offer of 1.79% for 5yrs with no fee is only available to those moving their mortgage from another provider to Santander.The lowest I was offered (currently having a below 60% LTV) is 2.09% for 3 or 5yrs with no fee, or a 2yr fixed @ 1.59%.


Good comment, that information will be useful to people.
Is there any charge for over payment?
I am locked in with Santander till 2019. Do you think they would let me upgrade early. Also if I wanted to move house would they hit me with any penalties etc. Apologies really don't know as much as I should about mortgages.
Overpayments? can't find then information.


Found it 10%
Edited by: "krizw" 18th Sep 2017
mywife12 m ago

Just spoken to Santander myself as an existing mortgage customer of theirs …Just spoken to Santander myself as an existing mortgage customer of theirs on SVR looking to move to a new product. The offer of 1.79% for 5yrs with no fee is only available to those moving their mortgage from another provider to Santander.The lowest I was offered (currently having a below 60% LTV) is 2.09% for 3 or 5yrs with no fee, or a 2yr fixed @ 1.59%.

Nice work, not good news for me though.
Jawz36 m ago

First time buyer here. These LTV are scary.Being at an age where a house I …First time buyer here. These LTV are scary.Being at an age where a house I buy will have to be one for almost rest of my life. It's scary how much I am going to need as a deposit.Seems that 25% is what's needed for any decent rate. Avg house being around £250k that's 62.5k plus fees etch. Prob need to save around 65-67k and that's without costing for furnishings.Gonna go cry and by myself another lotto ticket ;o(


I sympathise with your plight, but to be candid there is nothing new. When I bought my first house in the 1980s the average cost was probably something around £30,000, now it is probably approaching £200,000, but 40 years ago interest rates were 12-15% and the money supply was very tight so in practice one needed a large deposit to get a mortgage at all. Obviously lenders will give the best rates to the lowest risk borrowers (that is what I would do if I was lending money), which means those with good and reliable salaries as well as large deposits or considerable equity in their existing properties.

You obviously won't need to save £65,000 as the deposit for your first place, but neither will you qualify for a loan at under 2% - such is the way of the world, it gets better as you get older and accumulate more capital.
m1chaels1 h, 54 m ago

So my current Santander fix will end in 12 months - odds of them letting …So my current Santander fix will end in 12 months - odds of them letting me switch to this one so that I am locked in with them again rather than looking for the best deal on the market = zero.Which comes as a warning, think very carefully about early repyment charges if taking a Santander fixed rate.


At 1.79% the rates can't go much lower, so I personally wouldn't hesitate at fixing at this rate for 5 years, especially with a weak government and Brexit on the horizon.
SavB38 m ago

This is great and all, but at 60% LTV and the average house price in …This is great and all, but at 60% LTV and the average house price in London being 650k, that implies you need a 260k deposit. Who in the heck has that?? What a sorry state of affairs the housing market has become.


People selling up after having benefited from the housing market price rises over the past 10 years? Not everyone is a first time buyer.
SavB39 m ago

This is great and all, but at 60% LTV and the average house price in …This is great and all, but at 60% LTV and the average house price in London being 650k, that implies you need a 260k deposit. Who in the heck has that?? What a sorry state of affairs the housing market has become.


60% LTV is not really a first time buyers Mortgage. And London well.... TBH from where I live anywhere 'down south' would be a no go. 650k would be a stately house around here.
gsusx9 m ago

I am locked in with Santander till 2019. Do you think they would let me …I am locked in with Santander till 2019. Do you think they would let me upgrade early. Also if I wanted to move house would they hit me with any penalties etc. Apologies really don't know as much as I should about mortgages.


You need to read your mortgage agreement! Failing that, ring Santander and have them explain it to you.
SavB41 m ago

This is great and all, but at 60% LTV and the average house price in …This is great and all, but at 60% LTV and the average house price in London being 650k, that implies you need a 260k deposit. Who in the heck has that?? What a sorry state of affairs the housing market has become.


people that already have a mortgage that have paid off a chunk and seen the property's value rise. which is a huge chunk of homeowners
Now if only you could get reasonable deals like this with no product fees on buy to let mortgages
Jawz49 m ago

First time buyer here. These LTV are scary.Being at an age where a house I …First time buyer here. These LTV are scary.Being at an age where a house I buy will have to be one for almost rest of my life. It's scary how much I am going to need as a deposit.Seems that 25% is what's needed for any decent rate. Avg house being around £250k that's 62.5k plus fees etch. Prob need to save around 65-67k and that's without costing for furnishings.Gonna go cry and by myself another lotto ticket ;o(



its not really a first time buyers rate. Start at 10-20% if you can, then as the prices go up your LTV will. Mines rocketed in the past few years. Maybe also try to find something a little smaller to start and move down the line when you can afford more. I got what I could afford and the time but now debating In the next few years that what Ive payed in and the equity, I could actually move up in the world now fairly substantially.
Go buy a garage for now, might double in a few years
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