Santander has made price reductions to selected new business residential fixed rates and buy-to-let (BTL) remortgage fixed rates.

Highlights include the 60% to 75% loan-to-value (LTV) two-year fixed rate for home movers starting from 3.73% with a fee of £999.

This move follows rate reductions from Barclays last week when the bank launched its lowest rate of 3.75% on a two-year fixed rate at 60% LTV with a fee of £899 for premier customers. 

Santander has also lowered rates in its product transfer range, residential and BTL fixed rates.

These include selected residential two- and five-year fixed rates between 60% and 85% LTV have been cut by up to 0.08%, while all BTL two-year fixed rates at 60% LTV have gone down by 0.05%.

In addition, Santander has increased rates on some residential home mover and first-time buyer fixed rates. 

Selected five-year fixed residential home mover products at 85% to 95% LTV have gone up by as much as 0.11%. 

Selected five-year fixed FTB products at 85% to 95% LTV rates have also increased by up to 0.12%.

Meanwhile, Molo has reduced rates by as much as 49 basis points across its UK resident BTL products. 

Two-year fixed rates for standard BTL products will start from 2.74% and five-year fixed rates will start from 4.39%.

The rates are available to both individuals and limited company landlords. 

Specialist BTL products including new builds, houses in multiple occupation (HMO) and multi-unit freehold blocks (MUFB), now carry 15bps premium over standard pricing. 

Two-year fixed rates for these property types now start from 2.89%, with no additional fees for larger properties.

Pricing for non-UK residents and expat borrowers remains unchanged, with rates starting from 5.69% and 5.24%, respectively, up to 85% LTV.