Santander reduces mortgage rates and launches new buy-to-let trackers

Santander has launched a new range of buy-to-let two-year tracker rates for both purchases and product transfers.

The lender has also reduced selected buy-to-let purchase and remortgage rates and selected residential fixed rate new business and product transfer rates.

The new buy-to-let let trackers are available from 5.60% at 60% LTV and 5.84% at 75% LTV, both with a £1,749 product fee.

Selected buy-to-let fixed rates have reduced by between 0.03% and 0.11% for purchases and remortgages and selected residential fixed rates are down by between 0.02% and 0.24% for purchase and remortgage.

Selected residential product transfer rates are also reducing by up to 5bps.

The latest changes follow a criteria overhaul at the bank earlier this month, which saw Santander increase its LTV limits and maximum loan sizes, as well as enhancing its interest-only and large loan lending policies.