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As the housing market continues to show signs of growth, Hern & Crabtree is excited to share some promising mortgage updates that could make a real difference for buyers and homeowners alike. With rates on the decline, now is a prime time to explore opportunities for securing a new home or refinancing your current property. Here’s a breakdown of the latest offerings from Santander and Barclays that could help you take the next step on your property journey.
Starting Thursday, 13th February, Santander UK will launch new two and five-year fixed-rate residential purchase and remortgage products. These offerings will be available at an attractive 3.99% interest rate for loans up to 60% loan-to-value (LTV). For purchasers, the products come with a fee of £1,999, while remortgages include a slightly lower fee of £1,749.
In addition to these new products, Santander has announced significant rate reductions on over 80 existing mortgage deals. These cuts, which go up to 0.40%, apply to a variety of options, including residential purchases, remortgages, new-build homes and buy-to-let properties. This move positions Santander as a key player in the competitive mortgage market, providing opportunities for both new buyers and those looking to refinance.
Meanwhile, Barclays has set out to match Santander. Their new offerings include two compelling five-year fixed-rate products:
Premier Five-Year Fixed-Rate Mortgage: Available at 3.99% (up to 60% LTV) with an £899 product fee.
Green Home Five-Year Fixed-Rate Mortgage: Reduced to 3.99%, further incentivising sustainable home purchases.
Barclays has also implemented widespread rate cuts across its residential and buy-to-let mortgage ranges. Highlights include:
A two-year fixed-rate purchase product now at 4.21% with an £899 fee.
A two-year remortgage option at 60% LTV, reduced to 4.20%.
These competitive offerings from Santander and Barclays are a clear indication of a positive trend in the mortgage market. Lower rates are creating opportunities for prospective homeowners and those looking to refinance their existing mortgages.
Hern & Crabtree Area Manager Rhodri Humphreys comments, “With mortgage rates on the decline, now is a promising time for both potential homeowners and those looking to refinance. As the housing market gains momentum, it’s a reminder that timing and strategy can make all the difference in securing the best deals.”
Whether you’re purchasing your first home, refinancing your current property, or exploring buy-to-let opportunities, these new offerings provide a compelling reason to review your options. With rates steadily decreasing, now may be the perfect time to take the next step in your property journey.
Contact us today to find out how we can help.