{"id":5026955,"date":"2019-10-25T13:15:35","date_gmt":"2019-10-25T12:15:35","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=5026955"},"modified":"2019-10-25T13:15:35","modified_gmt":"2019-10-25T12:15:35","slug":"mortgage-wars-santander-launches-lowest-ever-five-year-deal","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-au\/2019\/10\/25\/mortgage-wars-santander-launches-lowest-ever-five-year-deal\/","title":{"rendered":"Mortgage wars: Santander launches lowest-ever five-year deal"},"content":{"rendered":"<p><strong>Santander\u2019s new five-year fixed rate of 1.49% at 60% loan to value (LTV) is their lowest ever five-year deal, available direct to borrowers or through a broker.<\/strong><\/p>\n<p>For mortgage customers looking to lock into a longer-term rate amid economic uncertainties, it\u2019s great news. The new deal overtakes the previous lowest rate from Skipton Building Society at 1.53%.<\/p>\n<p>Currently the third-largest mortgage provider in the UK, Santander is ramping up the competition further with the launch of new two and 10-year fixed rate deals too. Their two-year fixed rate of 1.21% at 60% LTV is the joint-lowest rate on a mortgage that can be applied for directly by borrowers, while their 10-year mortgage offers a fixed rate of 2.34% at 75% LTV.<\/p>\n<h4>614% increase in the number of five-year deals<\/h4>\n<p>Moneyfacts.co.uk has reported that competition in the <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2019\/08\/15\/more-deals-and-lower-interest-rates-for-borrowers-seeking-10-year-mortgages\/\">10-year fixed-rate<\/a> market is at its highest for 10 years. Compared to just 22 in August 2014, there are currently 157 fixed-rate 10-year deals available to borrowers. This immense increase in 10-year deals indicates that mortgage lenders firmly believe that demand for longer-term mortgages will continue to rise.<\/p>\n<p>Rachel Springall, finance expert at Moneyfacts.co.uk, said: \u201cThis latest move by Santander just goes to show that the mortgage rate war isn\u2019t over. As one of the biggest mortgage brands in the country, these latest market-leading direct deals will not only appeal to new borrowers but also those looking to <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2019\/07\/26\/remortgage-applications-to-soar-25bn-worth-deals-end\/\">remortgage<\/a>, who are maybe weighing up their options.\u201d<\/p>\n<p>For mortgage customers seeking longer-term financial security, it\u2019s all positive news, especially as other lenders are expected to follow Santander\u2019s lead, intensifying competition even more notably within the 60% and 70% LTV tiers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Santander\u2019s new five-year fixed rate of 1.49% at 60% loan to value (LTV) is their lowest ever five-year deal, available direct to borrowers or through a broker. For mortgage customers looking to lock into a longer-term rate amid economic uncertainties, it\u2019s great news. The new deal overtakes the previous lowest rate from Skipton Building Society<a class=\"excerpt-read-more\" href=\"https:\/\/www.buyassociationgroup.com\/en-au\/2019\/10\/25\/mortgage-wars-santander-launches-lowest-ever-five-year-deal\/\" title=\"ReadMortgage wars: Santander launches lowest-ever five-year deal\">&#8230; Read more &raquo;<\/a><\/p>\n","protected":false},"author":3380,"featured_media":15399,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[26],"tags":[108],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts\/5026955"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/users\/3380"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/comments?post=5026955"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts\/5026955\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/media\/15399"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/media?parent=5026955"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/categories?post=5026955"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/tags?post=5026955"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}