Santander for intermediaries will cut selected standard residential and all new build exclusive fixed-rate purchase deals by up to 45 basis points from tomorrow (18 January).  

Highlights of the high street lender’s reductions cover:  

New business  

• Selected standard residential purchase fixes down by between 5bps and 45bps   
• All new build exclusive fixes down by between 17bps and 35bps  

However, the bank says that selected 60% loan to value and 75% LTV first-time buyer exclusive fixes, with £500 cashback, will be withdrawn.  

It adds that there will be no changes to the new business tracker and buy-to-let rates, or the product transfer range.  

The lender tells brokers that they must submit new business applications on its current range by 10pm on Wednesday 17 January.