Mortgage of the Week

by Thewelshman on 12 September 2011  |  2 comments
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Each week, lovemoney.com's resident mortgage broker Tim Wilson highlights his favourite mortgage of the week, and who it will appeal to.

This week’s mortgage of the week comes from Santander. It’s an interest rate of 2.69% fixed for 2 years (4.1%APR)

Product Features

• £999 arrangement fee
• Free valuation for remortgages
• Free legal service for remortgages
• Up to 70% loan-to-value
• Reverts to Santander’s SVR currently 4.24%
• 10% overpayments
• Maximum loan size of £1m
• Fixed for two years from completion

Why this deal? Tim Wilson explains...

"I like this mortgage for two reasons. The first of course is the fantastic low rate of 2.69%. The second reason is the lender, and the way it approaches testing affordability. Santander use an affordability calculator rather than income multiples, which I think is a more sensible way of lending. As a result, it can on occasion lend up to five times income. Call and find out if your criteria fits on 0800 068 6087."

Do you qualify for this product? Speak to an underwriter now!

If you are intersted in this product why dont you give us a call on 0800 068 6087 or email us on mortgages@lovemoney.com to ask any questions.

5 reasons to use lovemoney.com mortgage service

1.     Professionally qualified mortgage consultants
2.     Full advice and recommendation service
3.     Fee-free service – no advice fee or admin fees
4.     Exclusive deals from high street lenders
5.     All under one roof – access to solicitors and protection products

Use lovemoney.com's innovative new mortgage tool now to find the best mortgage for you online

At lovemoney.com, you can research all the best deals yourself using our online mortgage service, or speak directly to a whole-of-market, fee-free lovemoney.com broker. Call 0800 804 8045 or email mortgages@lovemoney.com for more help.

This article aims to give information, not advice. Always do your own research and/or seek out advice from an FSA-regulated broker (such as one of our brokers here at lovemoney.com), before acting on anything contained in this article. 

Finally, we tend to only give the initial rate of a deal in our articles, but any deal which lasts for a shorter period than your mortgage term may revert to the lender's standard variable rate or a tracker rate when the deal ends. Before you take out a deal, you should always try to find out from your lender what its standard variable rate is and how it will be determined in the future. Make sure you take all this information into account when comparing different deals.

Your home or property may be repossessed if you do not keep up repayments on your mortgage.