Santander reduces mortgage rates by up to 0.36% and launches new large loans

Santander has reduced residential and buy-to-let fixed rates across its new business and product transfer ranges by up to 0.36%. 

Alongside this, the lender is introducing a new range of large loan products for residential remortgage and product transfer customers, with a loan size between £500,000 and £5 million, as well as simplifying the minimum loan size for its standard residential remortgage range to £25,000.

For home movers, all 60% and 75% LTV three-year fixed rates have reduced by up to 0.36%, now starting from 4.06% fee-free at 60% LTV and 3.96% with a £999 fee at 75% LTV.

First-time buyers will see all 85% and 90% LTV two and five-year fixed rates reduced by up to 0.16%. 

In Santander's remortgage range, it is introducing a new minimum loan size of £25,000 for all £999 fee option products. In addition, all 60%, 75%, 85% and 90% LTV fixed rates have reduced by up to 0.13%, alongside launching new products priced from 3.73%. 

For buy-to-let, all 60% and 75% LTV two and five-year fixed rate purchase products have reduced by 0.05%, now starting from 3.94%, with remortgage rates down by up to 0.10% to start from 3.96%.

As part of Santander’s ‘no dual pricing’ pledge to brokers, the new pricing is available to all customers, whether they are applying via a broker or direct.