Santander reintroduces sub-4% mortgage rates

From tomorrow, Santander is reducing rates across its mortgage products including its home mover, first-time buyer, new build, remortgage and buy-to-let ranges.

The new pricing reflects the recent reduction in swap rates and sees the lender reintroduce sub-4% rates to its home mover offering.

In its home mover range, all two, three, and five-year fixed rates reduced by up to 0.13%.

As a result, Santander is now offering a two-year fixed rate at 3.97% and a three-year fix at 3.99%, both available up to 60% LTV with a £999 fee.

For first-time buyers, all two, three and five-year fixed rates between 60-95% LTV will be reduced by up to 0.17%.

Highlights include a two-year fix at 95% LTV, down by 15bps to 5.14% with no fee and £250 cashback. A three-year fix at 75% LTV is down by 17bps to 4.37% with no fee.

In Santander's new build range, rates are down by up to 0.21% on all three-year fixed first-time buyer rates up to 95% LTV, including a three-year fix at 95% LTV, down by 0.21% to 5.23% with no fee and £250 cashback.

Santander previously withdrew its 3.99% five-year fixed rate in February due to increases in five-year market swap rates.