Santander cuts higher LTV first-time buyer and home mover rates by up to 0.25%

From tomorrow, Santander is reducing rates across first-time buyer, home mover and remortgage fixed rates by up to 0.25%.

The reductions include Santander’s 98% LTV 'My First Mortgage' product, which is reducing by 0.25% to 5.60%, and marks the second time the lender has reduced rates this month, following a range of reductions across its higher LTV products last week.

In its first-time buyer range, selected two-year fixed rates are reducing by up to 0.14%, with three and five-year fixes decreasing by up to 0.25%.

The new range will also see the bank launch a series of new first-time buyer products including a 95% LTV three-year fixed rate at 5.55% with no fee and £250 cashback. At 85% LTV, a two-year fix is launching at 4.80% with a £999 fee and a five-year fix is available at 4.98% with no fee, both with £250 cashback.

For home movers, selected two-year fixed rates are down by up to 0.06%, three-year rates by up to 0.10%, and five-year rates by up to 0.05%.

In Santander's remortgage range, two-year rates are decreasing by up to 0.13% and five-year rates by up to 0.10%.

The newly reduced rates are available to customers applying via a broker or directly, under Santander’s ‘no dual pricing’ pledge.