Great news for borrowers or remortgages today as Santander has become the first of the large UK lenders to reduce their affordability rates. Rates across all residential mortgages with Santander are reduced by up to 0.75%, their lowest rate since 2022.
What does this mean for customers?
This news means that borrowers as of today can lend £10,000-35,000 more than they could yesterday!
Santander UK head of homes David Morris says: “Helping customers achieve their homeownership dream is a key priority for Santander, but we know that affordability constraints continue to bite.
“We’re thrilled to be the first major lender to respond to the updated FCA guidance, alongside introducing a range of reduced mortgage interest rates today, fulfilling our role as a responsible lender while helping more customers to borrow what they need to release their home aspirations.”
Call us today on 0800 975 0222 to chat through how this change could help you secure your dream home.