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The Guardian - UK
The Guardian - UK
Business
Zoe Wood and Rupert Jones

Boost for UK borrowers as Santander ‘fires starting gun’ on mortgage price war

a new housing development filmed from above
Banks have recently experienced a rush in mortgage applications as homebuyers seek to save thousands of pounds in stamp duty costs. Photograph: richardjohnson/Shutterstock

The first sub-4% mortgages for months are going on sale, handing a much-needed boost to first-time buyers and those worried about refinancing their home loan.

Santander on Thursday will start offering fixed rate deals at 3.99% lasting for two and five years. However, eligible borrowers need a 40% deposit, or a sizeable amount of equity to access the deals.

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