Santander has unveiled a range of mortgages that are being made available as part of the government’s NewBuy scheme.
The organisation is hoping the products – which are being provided via intermediaries with ties to Bovis Homes, Persimmon, Berkeley and Barratt Homes – will give borrowers a helping hand when trying to get a foot on the first rung of the property ladder.
Included in the new collection are three, five and seven-year fixed rates that start from 5.49 per cent and include a loan-to-value of 95 per cent with a fee of £99.
Phil Cliff, director of Santander Mortgages, said the lender is delighted to be able to offer competitively priced products that underline its commitment to customers and to the NewBuy initiative in general.
Mr Cliff stated: “The range will have wide appeal and is designed to meet the needs of both first-time buyers looking to buy their first home and existing homes owners who are considering moving house .”
He added the recent recession resulted in new home sale numbers taking a dip, with those unable to stump up larger deposits finding it harder to access funding in order to secure a purchase.
