One of the most trusted banks in the United Kingdom is the Abbey National or now known as Santander. It is known as an award-winning mortgage provider. This company does not just lend you the money to earn from your repayments but they lend you money because they want to make sure you get what your family needs and you protect your investment the right way.
Santander offers a 2.99% fixed rate for 2 years to their existing current account customers who are either movers or first time buyers. With a 4.2% Annual Percentage Rate, you would only need to pay £495 booking fee and a minimum deposit of 30%.
If you are buying a new home, they offer a 3.09% fixed rate for 2 years with the same conditions as their current account customers.
Santander offers a range of mortgage options to cater your needs. They have Flexible offset mortgages; this gives you the freedom to pay less when you need to or pay more when you have the money and pay less interest. They also offer a tracker mortgage which would let your payments follow the Bank of England’s base rate for a set period. This way, expect to always have the minimum interest rate for your mortgage.
Fixed rate mortgages are also being offered. If you are earning a fixed amount each month and you are keen on budgeting your earning, this could be the best type of mortgage for you. This gives you the peace of mind as you know how much you need to repay each month. It never changes.
Santander also allows buy-to-let mortgages to get your investment working for you. This type of mortgage allows you to borrow from £25, 001 to £1 million per property. It does not matter if you are an experienced landlord or a new comer to the buy-to-let market. You can borrow up to 75% of the property’s value and choose how you will repay it; either by paying the capital and interest or make interest only repayments.
Indeed, it takes years to finish repayments for your mortgage. It may be too long that just half way you may already find the need to renovate or do some repairs to your home. Santander gives considerations on this type of instances by allowing you to remortgage. You can borrow an additional amount of money to make improvements to your home with the right deal, competitive rates and a wide range of benefits.
Santander understands how stressful and expensive it is to be moving home. This is why they have thought of a mortgage to give you assistance in moving home. They help from the cost of legal works through making the whole process more straightforward.
Getting a mortgage through Abbey National or Santander is indeed very convenient. If you are a first time buyer, this might just be the right bank for you. They do provide a step-by-step guide on how to apply for your first mortgage which is also accessible on line for you to read.