Rates are reduced by up to 20bps
Santander UK has announced reductions of up to 20 basis points (bps) on selected fixed rates across its purchase, remortgage, buy-to-let, and new build mortgage ranges.
Notable changes in the high street lender’s residential remortgage rates include a 75% loan-to-value (LTV) two-year fixed rate with a £999 product fee, now at 4.77%, down from 4.89%; a 60% LTV three-year fixed rate with a £999 product fee, now at 4.52%, down from 4.60%; and a 60% LTV five-year fixed rate with no product fee, now at 4.45%, down from 4.55%.
Reductions in Santander’s residential purchase rates include a 90% LTV two-year fixed rate with a £999 product fee, now at 5.42%, down from 5.62%; a 60% LTV three-year fixed rate with no product fee, now at 4.66%, down from 4.78%; and a 95% LTV two-year fixed rate with no product fee and a £250 cashback, now at 5.95%, down from 6.05%.
New build rates that have been adjusted include a 60% LTV three-year fixed rate New Build Exclusive purchase with no purchase fee, now at 4.66%, down from 4.78%, and a 75% LTV three-year fixed rate New Build Exclusive purchase with a £999 purchase fee, now at 4.57%, down from 4.66%.
Changes in buy-to-let rates include a 60% LTV two-year fixed rate buy-to-let purchase with a £1,749 purchase fee, now at 4.62%, down from 4.72%, and a 60% LTV five-year fixed rate buy-to-let remortgage with a £1749 product fee, now at 4.37%, down from 4.50%.
The complete list of new rates is available on the lender’s website.
Santander joins the list of UK major lenders that have recently reduced their mortgage rates. Last week, Barclays announced rate reductions on a range of products, following rate adjustments from Nationwide and HSBC.
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