Santander has its cut rates across residential fixed-rate loans for new homebuyer and remortgage customers by up to 20 basis points.  

The lender says highlights include:  

• A 60% loan-to-value five-year fixed-rate deal at 3.94%, with a £999 fee for house purchase — reduced by 5bps  
• A 75% LTV five-year fixed-rate offer at 3.99%, with a £999 fee for house purchase – cut by 9bps  
• An 85% LTV five-year fixed-rate loan at 4.29%, with a £999 fee for remortgage customers — down by 14bps  
• And a 90% LTV five-year fixed-rate offer at 4.49%, with a £999 fee for remortgage customers — reduced by 20bps  

The firm has also cut rates on its 90% LTV five-year fixed-rate remortgage product, with a £999 fee by 20bps to 4.49% — and its 95% LTV five-year fixed-rate deal by 5bps to 5.02%, with no fee and a £250 cashback for house purchases.  

Santander head of business development, mortgages Graham Sellar says: “Spring is a traditionally busier time in the housing market and the changes announced today will help a wide range of customers right across the mortgage market, whether buying their first home, moving house or remortgaging.”  

Sellar adds that the average time it takes for the lender to move from initial mortgage application to full offer is currently six days.