"We’re pleased to deliver this bumper range of rate cuts across more than 70 products, alongside adding cashback for those looking at higher LTVs"
- Graham Sellar, head of intermediary channels at Santander
Santander UK has announced reductions to selected fixed rates across its residential purchase and remortgage range by up to 0.23%. In addition, the lender has introduced cashback of £250 on all residential mortgages at 85% LTV and above.
Santander has also reduced rates on its new build exclusive, green remortgage and buy-to-let ranges by up to 0.16%.
In its residential purchase range, highlights include a 60% LTV two-year fixed rate, down to 4.21% with a £999 fee, while an 85% LTV two-year fix has reduced to 4.69% with a £999 fee. A fee-free 95% LTV five-year fix is also down by 12bps to 5.29%.
For remortgaging, a 60% LTV three-year fixed rate has decreased by 4.26% with a £999 fee, a 75% LTV five-year fix is down by 23bps to 4.30% with a £999 fee, while a 90% LTV five-year fix has reduced to 5.21% fee-free.
New build exclusive fixed rates that have been reduced include three-year fixed rates at 4.17% up to 60% LTV with a £999 fee, 5.00% at 85% LTV and 5.66% at 95% LTV with no fees.
In Santander's green remortgage range, a 60% LTV five-year fix is down to 4.07% with a £999 fee, a 75% LTV two-year fix has decreased to 4.36% with a £1,749 fee, and a 75% LTV five-year fix has reduced to 4.26% with a £999 fee.
Examples of buy-to-let reductions include five-year fixes include a 75% LTV remortgage product, down to 4.40% with a £1,749 fee, and a 75% LTV purchase product at 4.67% with no fee.
Buy-to-let green remortgages have also reduced by up to 0.16%.
Graham Sellar, head of intermediary channels at Santander, said: “It’s the time of year where everyone is on the hunt for the opportunity to make their money go that little bit further. We’re pleased to deliver this bumper range of rate cuts across more than 70 products, alongside adding cashback for those looking at higher LTVs; helping more customers manage their borrowing for less and improving affordability for those hoping to secure a home ahead of the April stamp duty changes.”
