Santander reduces rates across mortgage range

mortgage adviser with clients

Santander has today announced further reductions in mortgage rates across residential fixed rate products and its Buy to Let range for both new homebuyers and re-mortgage customers.

Residential fixed rates have been reduced by up to 0.50% with the lowest rate now at 3.99%1. The bank is reducing rates across LTV brackets and across two, three and five year fixed terms deals providing greater choice for customers.

Changes made today include:

  • 60% LTV five-year fixed rate at 3.99% with a £999 fee for re-mortgages (reduced by 0.19%)
  • 75% LTV five-year fixed rate at 4.15% with a £999 fee for house purchases (reduced by 0.13%)
  • 85% LTV five-year fixed rate at 4.34% with a £999 fee for house purchases (reduced by 0.16%)
  • 90% LTV five-year fixed rate at 4.59% with a £999 fee for house purchases (reduced by 0.12%)

To support first time buyers and customers with smaller deposits purchasing a home, the largest rate reduction of 0.50% is on the 95% LTV 5-year fixed rate product now at 5.14% which has no fee and comes with £250 cashback.

Graham Sellar, Head of Business Development, Mortgages at Santander said: “These rate reductions will help customers right across the mortgage market, whether buying their first home, moving house or re-mortgaging. By reducing rates in a range of LTV brackets and across two, three and five year fixed deals we are increasing choice for customers

“Santander mortgage customers will also benefit from innovative services such as My Home Manager which provides easy, practical and tailored support to help manage the costs of running a home. From help moving in, to information on how to save money on energy bills, and access to green technology such as solar panels we continue to look for new ways to help customers manage their homes.”

Santander has also made reductions in it Buy to Let mortgage range:

  • 75% LTV two-year fixed rate at 5.19% with a £1,499 fee for re-mortgage and purchases (reduced by 0.30%)
  • 75% LTV five-year fixed rate at 5.05% with a £1,499 fee for re-mortgage and purchases (reduced by 0.14%)

Customers can see how much they could borrow and the rates available to them with the mortgage calculators on Santander’s website.