Santander cuts its mortgage rates

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The average five-year fixed rate mortgage is currently 5.9 % according to Moneyfacts data

As of yesterday, the bank has cut rates by between 0.05 and 0.56 percentage points on a number of deals aimed at home buyers, those remortgaging and landlords. It follows after Halifax and Nationwide cut their rates earlier this month.

Its cheapest five-year fix, which is available to those buying with at least a 40% deposit has fallen from 4.95% to 4.64%.

 

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