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Santander Cuts Mortgage Rate By 1Pc: How Low Can They Go? 5 Year Fixed

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http://blogs.telegraph.co.uk/finance/ianmcowie/100011782/santander-cuts-mortgage-rate-by-1pc-how-low-can-they-go/

Mortgage lenders are competing in a form of financial limbo dancing to see how low rates can go in a bid to boost business despite falling house prices and home sales.

Today, Santander is the latest to cut costs by as much as one percentage point with a five-year fixed rate set at 3.99pc on mortgages equal to 75pc of loan to value (LTV). The deal is only available through its specialist Abbey for Intermediaries operation and carries a £995 arrangement fee.

While it might be too much to ask first time buyers unaided by the ‘bank of mum and dad’ to put up a quarter of purchase price, these terms are eminently accessible for established hombuyers keen to lock into today’s low interest rates.

Been a nice ramping day in the press today for mortgages, first we have blanket coverage of 100% mortgages underwritten by your parents house and now this.

Slow news day?

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What do Santander know that we don't? Extended period for ZIRP? QE?

BTW i've just switched to this product! a few months ago the 5 year fix with santander was on at 5.64%! Cheap money here we go.

woo hoo

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What do Santander know that we don't? Extended period for ZIRP? QE?

BTW i've just switched to this product! a few months ago the 5 year fix with santander was on at 5.64%! Cheap money here we go.

woo hoo

It's starting to get tempting. Houses might drop, but savings might disappear :ph34r:

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What do Santander know that we don't? Extended period for ZIRP? QE?

BTW i've just switched to this product! a few months ago the 5 year fix with santander was on at 5.64%! Cheap money here we go.

woo hoo

responsible lenders do it themselves.

Irresponsible lenders get the Broker to do the LIAR LOAN.

oh look, they are using an intermediary only.

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Several EAs in Swansea have told me that Santander are the biggest down-valuers of asking prices in the area.

Apparently they are also using any excuse to turn down the mortgages, such as knotweed within X miles.

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I see nothing on the Express website about this, I can only guess they're holding onto this one for tomorrows front page headline

"Mortgage joy for millions" :lol:

If only the rioters had done something useful and burned down the Express HQ instead of Carpetright :(

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It's hardly news. Yorkie BS 5year fix is 3.39% (with a big fee).

I beg to differ this is 3.99% for five years with only 75% LTV, I bet the yorkie can't match that

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I beg to differ this is 3.99% for five years with only 75% LTV, I bet the yorkie can't match that

Yorkshire do a 10 year @ 4.19 for 75% LTV, their evil daughter, Chelsea, do a 10 year @ 3.99 for 70% LTV.

Santander just can't keep up!

10 Year Mortgage Rates

Oh and if you want 5 year First Direct will do one for 3.49% @ 65 LTV

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Does anywhere do a 15/20/25 year fixed rate?

It's always puzzled me why people purchase short term mortgages, what happens down the line?

You must re-mortgage? Must be mad!

I'm sorry Mr D.ebtslave the lowest rate mortgage available that we can offer you is equivalent to an APR of 28.9%, I'm sorry your not getting a pay rise, but we all need to cut back in these times of austerity...

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Does anywhere do a 15/20/25 year fixed rate?

It's always puzzled me why people purchase short term mortgages, what happens down the line?

You must re-mortgage? Must be mad!

I'm sorry Mr D.ebtslave the lowest rate mortgage available that we can offer you is equivalent to an APR of 28.9%, I'm sorry your not getting a pay rise, but we all need to cut back in these times of austerity...

Not that I can find.

Some countries use long term fixes, I believe it is common in the US?

In the early naughties I recall one company doing 25 year deals, I recall the rates were reasonable but the buy out clause astronomical and no opportunity for early repayment.

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Does anywhere do a 15/20/25 year fixed rate?

when I worked at a mortgage lender, the reason given internally, and on a commercial basis, that they never did long term fixes, is that people never took them up, there simply isn't a market for them, so the volumes were too small to efficiently fund and market them

that simple

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  • 276 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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