From tomorrow, Tuesday 11th August, Santander is reducing most fixed and tracker rates in its residential range, and all fixed rates in its buy-to-let range.
In its home mover range, two-year fixed rates have reduced by up to 0.13%, with the lowest rate now at 4.57% up to 60% LTV with a £1,499 fee. 85% LTV rates have reduced by 0.19% and 90% LTV rates by 0.20%.
All three-year fixed rate home mover products have reduced by between 15-20bps, with five-year rates down by up to 0.15% and now starting from 4.61%.
10-year fixed rates have reduced by between 15-25bps, with the largest reduction to a 95% LTV fee-free rate, down to 5.70%.
Santander has also reduced the differential by up to 0.20% on its home mover tracker products, with the lowest rate now at 4.03%.
For first-time buyers, two-year fixed rates have reduced by up to 0.25%, with rates now starting from 4.64% and the largest reductions at higher LTVs.
Three-year fixed rates have reduced by 0.15%, with five-year rates down by up to 0.20%. The largest five-year fixed rate reductions are to 85% LTV rates, now starting from 4.85%, with 75% and 90% LTV products seeing reductions of 0.18%. 10-year fixed rates have reduced by up to 0.25%. Santander has also launched a new range of two-year trackers from 4.15%.
Two-year fixed rate remortgage products have reduced by up to 0.10%, with five-year rates reducing by 0.11%. Two and five-year fixed rates at 60% LTV now start from 4.65% and 4.71% respectively.
In Santander’s buy-to-let purchase range, two and five-year fixed rates have reduced by 12-13bps, starting from 4.57%. Remortgage rates have reduced by 5bps.
There are no changes to remortgage tracker rates or any rates in Santander’s product transfer range.