In a bid to widen the options for first-time buyers, Santander UK has unveiled new three-year fixed-rate products, specifically for those seeking to invest in new build properties.

Expanding on its existing suite of five-year fixed-rate products, which also extend up to its recently announced 95% LTV on new build properties, Santander is introducing the following options:

95% LTV three-year fixed rate: This package offers a competitive fixed rate at 5.39% and has no upfront fees. Moreover, customers can benefit from £250 cashback as part of the deal.

90% LTV three-year fixed rate: Santander is rolling out two alternatives under this category. The first offers a fixed rate at 4.97% with a £999 fee, while the second provides a rate of 5.15% with no initial charges. Both options are exclusively tailored for new build purchases.

READ MORE: Santander cuts all buy-to-let rates

Have something to say about this story? Leave a comment below.