Santander for Intermediaries (SFI) has completed its first Help to Buy mortgage guarantee loan.
The lender launched its latest products three weeks ago.
This comes on the day Santander UK reported it has increased its mortgage lending by 30%, from £14 billion in 2012 to £18.4 billion in 2013.
Santander launched its range of 95% LTV Help to Buy: mortgage guarantee products on 9 January 2014. In the three weeks since launch, Santander for Intermediaries has approved over 850 Help to Buy applications from homebuyers across the UK.
The first Help to Buy: mortgage guarantee completion was facilitated by mortgage intermediaries Your Move, part of LSL Property Services plc, who agreed a two year fixed rate at 4.99% with Santander for Intermediaries for its client.
Brad Fordham, managing director of Santander for Intermediaries, said: “There’s been a huge response to our new Help to Buy products, with over 850 applications already in the pipeline, so it’s great to be announcing our first completion so soon – in just three weeks – with many more to come.
“Santander for Intermediaries is focused on offering great service and writing quality business, helping our intermediary partners help their clients. These latest developments, coupled with our year end figures which has seen an increase of almost £4.5 billion in our mortgage lending, should make it clear that we’re open for business.”