Santander has issued details of its new 95% LTV mortgages first announced late last week.
The mortgages lie outside of the government’s mortgage guarantee scheme, which is due to close for new applicants on 31 December this year.
Santander is therefore exiting the scheme and launching its own products, which are the same as the previous offering bar altered product codes.
The lender’s two-year fix is priced at 3.34%, the five-year fix at 3.39%, and the two-year tracker at 4.49%. All charge zero fee.
The new mortgages will be available from Wednesday 1 June and it says that all new full mortgage applications over 90% LTV submitted from 1 June will no longer need a mortgage guarantee scheme customer declaration.
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