Mortgage Rates Cuts From Santander

    LEICESTER, ENGLAND, August 28, 2010 /24-7PressRelease/ -- From the end of August 2010, borrowers will be able to benefit from further reductions to Santander's mortgage rates. In particular, two, four and five-year fixed products are reducing by up to 0.24 per cent. The new competitive range includes:

- Two-year fixed reduced to 2.75 per cent (previously 2.85 per cent) and up to 60 per cent LTV with GBP1995 fee available to all borrowers
- Four-year fixed reduced to 4.75 per cent (previously 4.99 per cent) and up to 75 per cent LTV with GBP995 fee including the Homebuyer Solution (free basic valuation and GBP250 cashback on completion)
- Five-year fixed reduced to 4.75 per cent (previously 4.99 per cent) and up to 70 per cent LTV with GBP995 fee including the Homebuyer Solution (free valuation and GBP250 cashback on completion)

Santander, the 'Home of UK Mortgages', is also introducing some new fixed and tracker products:
- NEW two-year fixed at 3.90 per cent and up to 75 per cent LTV and NO fee including the Homebuyer Solution (free valuation and GBP250 cashback on completion)
- NEW two-year tracker at 3.09 per cent and up to 70 per cent LTV with NO fee including the Homebuyer Solution (free valuation and GBP250 cashback on completion)

A Santander spokesperson said: "It's great news for borrowers that rates are coming down on fixed deals. Whether they're looking to remortgage or purchase a house, we have some extremely competitive deals in our range. As the 'Home of UK mortgages', we want to ensure we can provide customers with a good variety of products to suit their needs."

For more information on mortgages from Santander, log on to http://products.santander.co.uk/mortgages.htm, telephone 0800 389 6704 or visit your local Santander or Alliance & Leicester branch.

The information contained in our press releases is intended solely for journalists and should not be used by consumers to make financial decisions.

About Us

Banco Santander (SAN.MC, STD.N, BNC.LN) is a retail and commercial bank, based in Spain, with presence in 10 main markets. At the end of 2009, Santander was the largest bank in the euro zone by market capitalization and fourth in the world by profit. Founded in 1857, Santander had EUR 1,245 billion in managed funds at the end of 2009. Following the acquisition of Sovereign Bancorp. of the U.S. in January 2009, Santander has 90 million customers, 13,660 branches - more than any other international bank - and 170,000 employees. It is the largest financial group in Spain and Latin America, with leading positions in the United Kingdom and Portugal and a broad presence in Europe through its Santander Consumer Finance arm. In 2009, Santander registered EUR8,943 million in net attributable profit.

In the UK, Santander operates two retail businesses - Santander, which was formed out of the Abbey and Bradford & Bingley retail network, and Alliance & Leicester. Together they have over 1300 branches, around 4,500 cash machines and they provide a full range of retail including current accounts, savings accounts, loans and corporate banking services to 25 million customers.

Alliance & Leicester will become known as Santander by the end of 2010.

For more information about Santander's products please visit http://products.santander.co.uk.

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