Santander launches lowest two and five-year fixed rates on the market

Santander UK has made further reductions of up to 0.29% to selected fixed rates across its purchase, remortgage, green mortgage, and buy-to-let ranges, with rates now starting from 3.68%.  

This means Santander is currently offering the lowest mortgage rate on the market. Last week, Barclays introduced five-year fixed rates at 3.70% for a premier product and 3.71% for a standard product, undercutting Nationwide’s five-year fix at 3.74%.

Santander's 3.68% is available on a five-year fixed rate residential purchase mortgage with £999 purchase fee.

The lender has also introduced the lowest two-year fixed rate currently available on the market, priced at 3.84% up to 60% LTV with a £999 fee. As a result, it has become the third high street lender to introduce sub-4% two-year fixed rates in recent weeks.

In Santander's remortgage range, 60% LTV two and three-year fixed rates now start from 3.99%.

In the Bank's new build range, three-year fixed rates have reduced to 3.99% at 75% LTV with a £999 fee and 5.58% at 95% LTV with no fee and £250 cashback.

A 60% LTV two-year fixed rate green mortgage has decreased to 4.19% with no fee and a 75% LTV five-year green buy-to-let remortgage product with a £1,749 product fee is now priced at 3.98%.

Elsewhere in Santander's buy-to-let range, two and five-year fixed rates at 60% LTV have reduced to 4.26% and 3.97% respectively, both with a £1,749 fee.