Santander - 18 month fixed mortgage at 0.99%, 60% LTV
20°Expired

Santander - 18 month fixed mortgage at 0.99%, 60% LTV

8
Found 8th Feb
Great deal for a short term mortage rate. Be aware that there is a fee of £1499.

They are similarly matching the previous deal with HSBC which was the cheapest fixed rate on the market at 0.99% for 2 years but was later withdrawn. Could this be heading into another price war between lenders?

8 Comments

Needs to be a big old mortgage to make that worthwhile unless you're going to flip the house.

Someone thinks this is a good deal with a £1500 up front fee? That is bizarre unless one has a huge mortgage.

1500 booking fee and only lasting 18 months is crazy. As above, unless you only need bridge financing or a massive mortgage it isn't good.

£1499 fee is the killer especially over 18 months oO

What else is good on the market? My BTL mortgage has come to an end with Halifax (renewal at 3.29%, no fees, 2 yr fixed)... I only need 60k, house value 95k - thats 63% LTV right?

Edited by: "ruheluddin86" 9th Feb

price war between lenders with a £1499 upfront fee, same as paying 2.5% on a £100k mortgage, in the first 12 months. so why would you,

ruheluddin86

What else is good on the market? My BTL mortgage has come to an end with … What else is good on the market? My BTL mortgage has come to an end with Halifax (renewal at 3.29%, no fees, 2 yr fixed)... I only need 60k, house value 95k - thats 63% LTV right?


That sounds like a reasonable offer from Halifax. I have just renewed my BTL mortgage with Santander at (from memory) exactly the same rate, but fixed for 5 years. The BTL mortgage market is a bit different to the domestic one (less gimmicks like this post, but a bit more flexible as well).

crumpo

1500 booking fee and only lasting 18 months is crazy. As above, unless … 1500 booking fee and only lasting 18 months is crazy. As above, unless you only need bridge financing or a massive mortgage it isn't good.


I think we have all agreed this post is a bit daft, unless that is one needs a huge mortgage (well over about £200,000 to make it worthwhile) and has a £150,000 deposit. Even in those circumstances I'd be loath to hand over £1500 of my hard earned savings for an 18 month deal.
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