Santander cuts BTL rates

In a statement, the bank said:

"The Buy to Let market is growing apace and we want to provide the best mortgages for landlords, which is why our rates now start as low as 2.35 per cent on a two year fixed, up to a 60 per cent LTV with a £1995 booking fee."

Santander has also reduced rates on its standard residential purchase and remortgage mortgages by up to 0.65%, and are rewarding existing current account and existing Santander home movers with a new range of Loyalty mortgages, offering either a reduced rate or lower booking fee. In addition, the bank is offering a free standard valuation and £250 cashback for purchase customers or a free standard valuation and free legals for remortgage customers.

The bank has also relaunched its Large Loan mortgages, offering customers a higher maximum loan size plus a wider range of deals.

The new range of 60% LTV fixed mortgages include a 1.69% two year fixed at 60% LTV with a £1995 booking fee. Santander are also offering reductions on 70% LTV fixed and tracker mortgages, and has increased the maximum loan size to £3 million.

Miguel Sard, Head of Santander Mortgages, Santander said:

“We know that different customers want different things, which is why our new range supports Buy to Let landlords, offers competitive rates on our residential products, including larger loans and rewards customers loyalty.

“We have some of the lowest rates available in the market and want to support every customer secure the best mortgage to meet their needs.”