Santander has today announced further reductions in mortgage rates across residential fixed rate products and its Buy to Let range for both new homebuyers and remortgage customers.
Residential fixed rates have been reduced by up to 0.25% with the lowest rate for both house purchase and remortgage customers now at 3.99%(1). The bank is reducing rates across Loan-to-value (LTV) brackets and across two-, three- and five-year fixed terms deals providing greater choice for customers.
Changes made today include:
- 60% LTV five-year fixed rate at 3.99% with a £999 fee for house purchase (reduced by 0.11%)
- 75% LTV five-year fixed rate at 4.08% with a £999 fee for house purchase (reduced by 0.07%)
- 85% LTV five-year fixed rate at 4.31% with a £999 fee for house purchases (reduced by 0.03%)
- 90% LTV five-year fixed rate at 4.52% with a £999 fee for house purchases (reduced by 0.07%)
A full list of rate changes is available here.
To support first time buyers and customers with smaller deposits purchasing a home, the largest rate reduction of 0.26% is on the 85% LTV 2-year fixed rate product now at 4.89% with no fee and reductions of up to 0.17% on the 90% LTV two-year fixed rate product range.
Aaron Shinwell, Chief Operating Officer – Homes at Santander said: “We are working hard to help customers right across the mortgage market, whether buying their first home, moving house or remortgaging. By reducing rates in a range of LTV brackets and across two-, three- and five-year fixed deals we are delivering better value for customers.”
Customers can see how much they could borrow and the rates available to them with the mortgage calculators on Santander’s website.
My Home Manager provides mortgage customers with personalised information and support through Santander's mobile app and over 60,000 customers have benefited from using this service so far.
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Notes to Editors
1) 60% LTV 5-year fixed rate at 3.99% with a £999 fee for house purchase customers.