Mortgage

Sanantander

Santander will make its five-year fixed-rate business and product transfer rate of 3.99% in the week after its launch.

Withdrawal will appear at 10 p.m. Friday On February 21, Main Street Bank said in a note to brokers that the move happened after “a rise in market swap rates in the last five years.”

The lender introduced interest rates below 4% on February 13 with a two-year and five-year term. The two-year period is not affected.

The bank said its withdrawals cover:

  • 60% LTV is 3.99% for five-year fixed rate and costs £1,749
  • 60% LTV five-year fixed amount is 3.99% with a charge of £1,999
  • 60% and 75% LTV fixed at 3.99% for five years, and the cost is £1,749

Aaron Strutt, director of products and communications at Sany Financial, said: “Santander Bank will withdraw some of its products.

“Santander has kept its 3.99% two-year fixed rate, while Barclays still has a 3.99% five-year interest rate, although they may not last longer.

“There is still time to secure a Best Buy deal in Santander, but borrowers need to be quick.”

According to Chatham Financial, the five-year Sonia swap rate on February 18 was 3.93%, down from 4.04 a month ago. During the same period, the two-year swap ratio fell by 4.02% from 4.17%.

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