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Mortgage rates cut below 4% as competition picks up

  • Santander UK is launching the first sub-4% interest mortgages of 2025, offering two- and five-year fixed rates at 3.99% for customers with a 60% Loan to Value starting February 13.
  • Homebuyers will face a fee of £1,999, while remortgagers will pay £1,749, according to Santander's announcement.
  • David Morris, head of homes at Santander, stated that these new products will positively impact customers throughout the home-buying journey.
  • Experts suggest this move by Santander could trigger a mortgage price war, despite concerns about higher fees and limited competition in the market.
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theintermediary.co.uk broke the news in on Tuesday, February 11, 2025.
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