Santander UK has today reduced selected residential purchase mortgages, remortgages, buy to let, and product transfer fixed rates by between 0.02% and 0.20%.
A new range of first time buyer products has also been launched offering rates from 5.41% plus £500 in cashback.
Graham Sellar, Head of Business Development, Mortgages at Santander said: “We are delighted to be able to help borrowers access cheaper loans with further reductions to our fixed mortgage rates. Santander is also continuing to support first time buyers, providing £500 cashback to help with the costs of buying their first home.”
The full list of new rates can be found online here. Examples of rates that have been reduced include:
- 75% loan to value (LTV) five year fixed rate residential purchase mortgage with a £999 product fee is now priced at 5.20%, down from 5.30%.
- 85% LTV two year fixed rate residential purchase mortgage with a £999 product fee is now priced at 5.99%, down from 6.09%.
- 90% LTV five year fixed rate residential purchase mortgage with no product fee is now priced at 5.84%, down from 5.99%.
Examples of new first time buyer products launched include:
- 75% LTV five year fixed rate residential mortgage with no purchase fee at 5.41% with £500 cashback.
- 85% LTV two year fixed rate residential purchase mortgage with no purchase fee at 6.46% with £500 cashback.
- 90% LTV two year fixed residential purchase mortgage with no purchase fee at 6.54% with £500 cashback.
- 90% LTV five year fixed rate residential purchase mortgage with no purchase fee at 5.84% with £500 cashback.
There will be no changes to residential tracker mortgages.
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Santander UK is a financial services provider in the UK that offers a wide range of personal and commercial financial products and services. At 30 June 2023, the bank had around 19,400 employees and serves around 14 million active customers, 7 million digital customers via a nationwide 445 branch network, telephone, mobile and online banking. Santander UK is subject to the full supervision of the FCA and the PRA in the UK. Santander UK plc customers’ eligible deposits are protected by the FSCS in the UK.
Banco Santander (SAN SM, STD US, BNC LN) is a leading commercial bank, founded in 1857 and headquartered in Spain. It has a meaningful presence in 10 core markets in the Europe, North America and South America regions, and is one of the largest banks in the world by market capitalization. Santander aims to be the best open financial services platform providing services to individuals, SMEs, corporates, financial institutions and governments. The bank’s purpose is to help people and businesses prosper in a simple, personal and fair way. Santander is building a more responsible bank and has made a number of commitments to support this objective, including raising €220 billion in green financing between 2019 and 2030. In the first half of 2023, Banco Santander had €1.25 trillion in total funds, 164 million customers, 9,000 branches and 212,000 employees.