Santander will cut rates across its higher loan-to-value (LTV) first-time buyer (FTB) and home mover products from 24th April.
Rates on FTB, home mover and remortgage fixed rates will reduce by up to 0.25%.
The 98% LTV My First Mortgage product will drop by 0.25% to 5.60%.
Santander will also launch new products for FTBs, including a 95% loan-to-value (LTV) 3-year fixed at 5.55% with no fee and £250 cashback, an 85% LTV 2-year fixed at 4.80% with a £999 fee and £250 cashback, and an 85% LTV 5-year fixed at 4.98% with no fee and £250 cashback.
The new rates will be available to customers applying through brokers or direct, as part of Santander’s ‘no dual pricing’ approach.
For FTBs, the My First Mortgage exclusive at 98% LTV with a minimum £10,000 deposit and £250 cashback will reduce by 0.25%.
Selected 2-year fixed rates will reduce by up to 0.14%, 3-year fixed by up to 0.25%, and 5-year fixed by up to 0.25%.
For home movers, selected 2-year fixed rates will go down by up to 0.06%, 3-year fixed by up to 0.10%, and 5-year fixed by up to 0.05%.
For new build home movers, 2-year fixed rates will go down by up to 0.06%, 3-year fixed by up to 0.10%, and 5-year fixed by up to 0.05%.
For new build FTBs, 2-year fixed rates will drop by up to 0.14%, 3-year fixed by up to 0.25%, and 5-year fixed by up to 0.10%.
For remortgage customers, 2-year fixed rates will drop by up to 0.13% and 5-year fixed by up to 0.10%.