Santander has reduced rates across all its 85% to 95% loan-to-value (LTV) first-time buyer products by up to 0.32%.
The reductions include first-time buyer rates starting from 3.92%, with a market leading 95% LTV, five-year fixed at 4.72% with no fee and 85% LTV, five-year fixed at 4.17% with £999 fee.
Santander has also lowered rates across its range of new build first-time buyer exclusives with rates being cut by up to 0.32%, starting from 3.92%.
Meanwhile, it has lifted rates on residential home mover (including new build) deals with all 60% LTV two-year fixed rates increasing by 0.07%. In addition, all 60%, 75%, 85% and 90% LTV five-year fixed rates are increasing by up to 0.07%.
Selected 60% LTV two-year residential remortgage two-year fixed rates are going up increasing by up to 0.03%. All 60%, 75%, 85% and 90% LTV five-year fixed rates are rising by up to 0.07%.
Finally, all 60% and 65% LTV BTL remortgage five-year fixed rates are lifting by 0.04%.
Santander director of homes David Morris says: “We’re going into 2026 with a renewed focus on supporting first-time buyers in a balanced and responsible way, with recent applications for our newly launched My First Mortgage showing there is real demand in the market for creative support from lenders.”
“But we can’t forget the basics, and we’re pleased to introduce this suite of mortgage rate reductions across our range of higher LTV lending, the latest advancement in our goal of helping first-time buyers on their homeownership journey.”
Also commenting, Trinity Financial product and communications director Aaron Strutt says: “Santander is making a real mixture of rate changes with some big price improvements for first-time buyers.”
“The bank has been offering many of the lowest fixed rates on the market for a while, so price rises were always going to come even though Nationwide cut its rates today.”
“There have been some really competitively priced mortgages to choose from despite the rate increases we have seen over the last few weeks.”
“The best buys now include Nationwide’s 3.54% two-year fixed rate and 3.69% three-year fix. First Direct has a 3.75% five-year fix and HSBC for Intermediaries is offering five-year fixes starting from 3.79%.”
