Santander for Intermediaries has reduced all new business residential and buy-to-let (BTL) fixed rates by up to 0.45%, effective from 22 November.

The new business residential purchase and remortgage at 90% LTV two-year fixed has been reduced by 15 basis points to 5.99% with a fee of £999. 

The new business residential purchase only at 95% LTV five-year fixed has gone down by 25 basis points to 6.14% with no fee. 

Residential tracker rates have also been reduced. The 75% LTV two-year fixed rate has decreased by 1.25% to 3.94% with a product fee of £999. 

The lender is introducing new products in the residential 60% loan-to-value (LTV), 85% LTV and new build ranges. 

The residential purchase and remortgage 85% LTV two-year fixed is being introduced with a rate of 6.07% with no fee. 

In addition, Santander the 95% LTV residential purchase two-year tracker will now only be available to existing Santander mortgage customers moving home.

For product transfers, it will be reducing all residential fixed and tracker rates and selected BTL fixed rates.

Meanwhile, Santander announced that from today (21 November) it will no longer charge the £35 funds transfer fee on mortgage completion. 

The lender says the change will be applied to any residential or BTL case that completes on or after 21 November.