September 19, 2011 09:53 ET

Santander Announces Further Rate Cuts Across Its Fixed Range

LONDON, UNITED KINGDOM--(Marketwire - Sept. 19, 2011) - On Friday 16 September, Santander is cutting rates on a range of its two, three, four and five year fixed mortgage products by up to 1.10 per cent. It is also launching a new three-year fix at 70 per cent LTV at 3.19 per cent with NO fee.

On two year fix products:

Mortgage rates reduced by 0.20 per cent on two-year fix at 60 per cent LTV for homebuyers and remortgagers, now 2.69 per cent with a £495 fee

On three year fix products:

• New three-year fix at 70 per cent LTV for homebuyers and remortgagers, at 3.19 per cent with NO fee

• Rate reduced by 0.30 per cent on three-year fix at 75 per cent LTV for homebuyers and remortgagers, now 3.55 per cent with NO fee

On four year fix products:

• Rate reduced by 0.10 per cent on four-year fix at 70 per cent LTV for homebuyers and remortgagers, now 3.49 per cent with a £995 fee

On five-year fix products:

• Rate reduced by 0.14 per cent on five-year fix at 70 per cent LTV for homebuyers and remortgagers, now 3.65 per cent with a £995 fee

Phil Cliff, Director of Santander Mortgages, said: "Providing customers with real value underpins our continued commitment to supporting the UK housing market. As the 'Home of UK Mortgages', we're always looking at ways in which we can deliver this value to homeowners. Cutting rates on a number of our fixed rate products is one of the ways we can achieve this; helping those homebuyers, whether they are first time buyers, movers or remortgagers, who need the added reassurance that a fixed monthly payment can offer over the short and longer term."

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About Us

Santander UK plc is a full-service retail and commercial bank providing services to 32 million customer accounts, with more than 1,400 branches and around 4,200 cash machines. It has loan products, as well as bank accounts and also insurance products, Santander car insurance for example. It is a wholly owned subsidiary of Banco Santander. Santander UK plc is autonomous from its parent in terms of capital and liquidity, raising its own funds to run its business. Over 95% of the assets on Santander UK plc's balance sheet are UK based, and it is subject to full supervision of the Financial Services Authority (FSA) in the UK. Santander UK plc customers are protected by the Financial Services Compensation Scheme (FSCS) in the UK.

Banco Santander (SAN.MC, STD.N, BNC.LN) is a retail and commercial bank, based in Spain, with a presence in 10 main markets. Santander is the largest bank in the euro zone and tenth in the world by market capitalization. Founded in 1857, Santander had EUR 1,374 billion in managed funds, more than 100 million customers, 14,679 branches – more than any other international bank – and 190,000 employees at the close of June 2011. It is the largest financial group in Spain and Latin America. Furthermore, it has significant positions in the United Kingdom, Portugal, Germany, Poland and the U.S. northeast. Santander Consumer Finance operates in the Group's core markets as well as in the Nordic region. In the first half of 2011, Grupo Santander registered €3,501 million in net attributable profit.

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