Santander has confirmed that for existing customers from 3 June tracker products will go down by 0.25%. This includes the Follow-on Rate, which will go down by 0.25% to 7.50%.

If a customer’s existing mortgage is affected, they’ll receive a letter notifying them of their new interest rate and new monthly payment at least seven days before their monthly payment change

Specialist lender Together has cut rates on its commercial and personal finance short-term products following the base rate reduction.

The cuts apply to the lender’s bridging and variable rate term products secured against residential and commercial property.

Together’s lowest rates for first charge unregulated bridging products have been reduced from 0.91% to 0.89% and from 1.01% to 0.99% on second charge unregulated bridging products for loans secured against residential property.

The lowest rates for unregulated bridging loans secured against commercial property have been cut from 1.03% to 1.00% while rates for first charge regulated bridging loans have been reduced from 0.85% to 0.83% for first charge and 1.00% to 0.98% for second charge products.

Together’s interest rates for variable rate term products have all reduced by 0.25%.

Shariah-compliant bank Gatehouse has confirmed rental rate reductions of up to 0.27% across its range of buy to let purchase plans available for UK expats and international residents.

The changes have been applied on standard and green two-year and five-year fixed term products, with two-year fixed term products seeing a rental rate reduction of 0.26% and five-year fixed term products reducing by 0.27%.

The reduced rental rates are also available for customers seeking finance for Houses in Multiple Occupation (HMOs) and Mutli-Unit Freehold Blocks (MUFBs). Gatehouse Bank accepts applications from individuals as well as UK-registered SPV limited companies.