Santander has made new mortgages available to its current account holders.
People with a Santander bank account who are also searching for a competitive mortgage deal might be interested in a new offer from the financier.
Under the terms of the lender's deal, which is available as of today (November 26th 2010), those holding a current account with it are exclusively eligible to apply for special two, three and five-year tracker mortgage products.
For example, the two-year package involves a 70 per cent loan-to-value (LTV) rate at 2.3 per cent and a fee of £995, while the three-year option can be taken out at 60 per cent LTV at a rate of 3.59 per cent.
In addition, Santander has reduced its 60 per cent LTV two-year fixed produce by 0.04 per cent to 2.65 per cent.
Phil Cliff, director of mortgages at the bank, commented these deals are designed to demonstrate its commitment to "offering a range of highly competitive mortgages to meet our customers' needs".
This comes after Mark Garner of LettingZone suggested recently that people may be better off buying a home rather than renting in the current financial climate as rents are going up.
Meanwhile, anyone with Santander savings wishing to take advantage of the lender's special current account offer needs to act soon, as the deal will end shortly.
The financier has reminded consumers looking to compare savings on the best available products that its £100 cash bonus for people switching their main current account to the lender ends on December 12th 2010.
In addition, anyone opting for this will benefit from a five per cent credit interest rate on the package, meaning it could be ideal for consumers wanting to make their money go a little bit further in the run-up to the festive period.
Gillian Almond, head of current accounts at the lender, remarked that "only seven per cent of people in the UK have switched their current account in the last year", meaning the "overwhelming majority" could be missing out on attractive rates elsewhere.
Meanwhile, recent research by Santander showed that many people are reluctant to consider switching their current account.
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