Residential fixes have been reduced by up to 0.50%
Santander has announced further mortgage rate reductions across residential fixed rate products and its buy-to-let range for both new homebuyers and remortgage customers.
Residential fixed rates were reduced by up to 0.50% with the lowest rate now at 3.99%. The bank has also reduced rates across LTV brackets and across two-, three-, and five-year fixed terms.
Changes to residential fixed rates include:
- Five-year fixed rate at 60% LTV with a £999 fee for remortgages - rate reduced by 0.19% to 3.99%
- Five-year fixed rate at 75% LTV with a £999 fee for house purchases - rate reduced by 0.13% to 4.15%
- Five-year fixed rate at 85% LTV with a £999 fee for house purchases - rate reduced by 0.16% to 4.34%
- Five-year fixed rate at 90% LTV with a £999 fee for house purchases - rate reduced by 0.12% to 4.59%
To support first time buyers and customers with smaller deposits purchasing a home, the largest rate reduction of 0.50% is on the 95% LTV five-year fixed rate product, now at 5.14%, which has no fee and comes with £250 cashback.
Santander has also made reductions in its buy-to-let mortgage range:
- Two-year fixed rate at 75% LTV with a £1,499 fee for remortgage and purchases - rate reduced by 0.30% to 5.19%
- Five-year fixed rate at 75% LTV with a £1,499 fee for remortgage and purchases - rate reduced by 0.14% to 5.05%
“These rate reductions will help customers right across the mortgage market, whether buying their first home, moving house or re-mortgaging,” Graham Sellar, head of business development for mortgages at Santander, said. “By reducing rates in a range of LTV brackets and across two-, three-, and five-year fixed deals, we are increasing choice for customers.
Find out more about Santander Mortgage Rates for Remortgage and moving home products.
“Santander mortgage customers will also benefit from innovative services, such as My Home Manager which provides easy, practical, and tailored support to help manage the costs of running a home. From help moving in, to information on how to save money on energy bills, and access to green technology such as solar panels we continue to look for new ways to help customers manage their homes.”
Customers can also see how much they can borrow and the rates available to them with the mortgage calculators on Santander’s website.
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