Santander reduces residential rates by up to 0.14%

From tomorrow, Santander is reducing residential fixed rates across its new business and product transfer ranges by up to 0.14%. 

The move marks the second time the lender has reduced interest rates this month after lowering rates across its home mover range last week.
 
The latest cuts see further cuts for home movers, with all two and five-year fixed rates decreasing by up to 0.13%.

Highlights include a 60% LTV two-year fixed rate, down to 3.93% with no fee and £250 cashback. A two-year fix at 95% LTV has decreased to 4.85%, also with no fee and £250 cashback.

In addition, all 60-75% LTV three-year fixed rate home mover products have decreased by up to 0.13%, with a 60% LTV rate down to 3.93% with no fee and £250 cashback.

For first-time buyers, all 90% LTV five-year fixes will reduce by up to 14bps, with a five-year fix down to 4.44% with no fee and £250 cashback.

Remortgage rates at 60-85% LTV have reduced by up to 0.10%. A 60% LTV two-year fix is down to 3.80% and a 75% LTV five-year fix is now available at 3.98%, both with a £999 fee.

All 60% - 75% LTV three-year fixed rate remortgage products have also reduced by up to 0.14%. A 60% LTV rate has reduced by 0.09% to 3.88% with a £999 fee. 

For product transfers, all 60%, 75%, 80% and 85% LTV two, three and five-year fixed rates have reduced by up to 0.10%. 

Alongside the rate reductions, Santander is also introducing new five-year fixed rate large loan products for remortgage customers. The new products include a 60% LTV five-year fix starting from 3.90% on a minimum loan size of £500,000. 

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