Santander UK

December 10, 2009 19:01 ET

New Fixed Rate Deals Launched by Abbey

-Three year fix at 4.29 per cent for remortgage customers available up to 75 per cent LTV.

-Great new fixed rate deals to reward loyal customers.

LEICESTER, UNITED KINGDOM--(Marketwire - Dec. 10, 2009) - From Friday 11 December, Abbey will once again lower some of its fixed rate mortgage range as it plays its part in helping to rejuvenate the number of competitive products available to homebuyers and remortgage customers. In addition Abbey will also launch new three year and five year fixed rate mortgage products.

The changes will mean that Abbey is now offering some of the most competitive high LTV products in the market, available through both Abbey and Alliance & Leicester branches.

The rate changes include:

Fixed Rates

-New three year fixed, 75 per cent LTV mortgage with a Pounds Sterling 995 booking fee at 4.29 per cent, available to remortgage customers who complete before the 26 February 2010. This product offers a 0.10 per cent discount to the standard three year fixed remortgage product.

-New five year fixed, 70 per cent LTV mortgage with a Pounds Sterling 995 booking fee at 4.95 per cent, available to both homebuyers and remortgage customers (available to existing customers with an Abbey or A&L bank account)

-Four year fixed, 75 per cent LTV with no booking fee at 4.89 per cent, down by 0.10 per cent (available to existing customers with an Abbey or A&L bank account)

The specials for existing current account customers come on the back of the announcement last month that Santander is to launch a revolutionary new current account, the first of a series of initiatives aimed at radically changing retail banking in the UK by giving existing customers the chance to benefit from its success in becoming the most efficient bank in the UK.

The Santander Zero Current Account, which will be available to anyone who currently holds a mortgage with the bank, or opens one, has no overdraft fees, no authorised charges, no unauthorised charges, no charges for unpaid items, no charges for paid items and offers fee-free foreign usage. It also offers 6 per cent in-credit interest fixed for 1 year and a market-leading overdraft interest rate of 12.9 per cent.

Nici Audhlam-Gardiner, Director of Mortgages at Abbey said: "We are seeing an increasing demand for medium-term fixed rate mortgages as homeowners consider the possibility that base rate will rise in the future. We have been cutting rates across our whole range over the past month, making mortgages even more affordable for those looking to get onto the property ladder or who are ready to remortgage onto a new more competitive deal."

The information contained in our press releases is intended solely for journalists and should not be used by consumers to make financial decisions.

Notes to Editors:

The Santander Zero Current Account will be available to all customers of Abbey and Bradford & Bingley from January, and will be extended to Alliance & Leicester customers when it rebrands to Santander later in 2010.

About Us

Santander (SAN.MC, STD.N) is a retail and commercial bank, based in Spain, with operations in more than 40 countries. At the end of 2008, Santander was the largest bank in the euro zone by market capitalization and third in the world by profit.

In the UK, Santander operates three retail businesses - Abbey, Alliance & Leicester who provide competitive savings accounts and bank accounts products, and Bradford & Bingley. Together they have over 1300 branches, around 4,500 cash machines and they provide a full range of retail and corporate banking services to 24 million customers.

Abbey, Alliance & Leicester and the savings business of Bradford & Bingley will all become known as Santander by the end of 2010. Abbey and the savings business of Bradford & Bingley will be rebranded from the first quarter of 2010 and Alliance & Leicester will follow later in the year. The move will deliver a significant advantage for customers as they will be able to use any of 1,000 Santander branches from early 2010, rising to over 1,300 by the end of 2010. For more information, please visit www.santander.co.uk

The Bradford & Bingley logo is a trade mark of Bradford & Bingley plc and is used under licence.

Contact Information

  • Media Enquiries:
    Santander UK
    Siobhan O'Shea
    020 7756 4189
    or
    Santander UK
    Andy Smith
    020 7756 4212
    or
    The press office operates from 8.00am to 6.00pm.
    Outside of these hours please call 0800 5877708.