Santander deal could attract new buyers to market
Britons who have invested in a bespoke conservatory or pool house to boost their home's appeal to new buyers may be buoyed by the latest news from one lender.
Santander has decided to cut its fixed-rate mortgage fees by up to £500, which could encouraged more first-time buyers to get on the housing ladder.
The bank introduced the offer on Friday (July 30th), applying it to its two and three-year fixed deals.
It has reduced the cost of its two-year fixed offer for Loyal Movers to £495, while the Flexible Offset option now costs £1,250.
"We continue to offer an attractive range of mortgages to borrowers, and today's fee reductions are no exception," explained mortgage director Phil Cliff.
He added that the lender recognises that upfront fees can cause a problem for buyers and that the bank has taken steps to reduce the financial burden.
Each of Santander's Homebuyer Solution mortgages comes with a free basic valuation and £250 cashback.
Recent Bank of England figures suggested that the mortgage market could be set to remain quiet into autumn, the Council of Mortgage Lenders has claimed.
Posted by Ashley Ault
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