Santander has cut over 70 fixed-rate loans by up to 23 basis points, while TSB will pull selected purchase products and cut others by as much as 15bps.

Santander has also introduced cashback of £250 on all residential mortgages at 85% loan to value and above.

Highlights of its purchase and remortgage rate reductions include:

• 95% LTV five-year fixes at 5.29%, with no fee, down by 12bps and £250 cashback added

Remortgage:

• 75% LTV five-year fixes at 4.30%, with a £999 fee, down by 23bps

Highlights of its new build exclusive reductions include:

• 60% LTV three-year new build purchase at 4.17%, with a £999 fee, down by 13bps

Highlights of its green remortgage reductions on two- and five-year loans, for properties with an A or B energy performance certificate rating include:

• 75% LTV five-year green remortgage fixes at 4.26%, with a £999 fee, down by 17bps

Highlights of its buy-to-let reductions on five-year fixes products include:

• 75% LTV five-year remortgage fixes at 4.40%, with a £1,749 fee, down by 14bps

Santander head of intermediary channels Graham Sellar says: “We’re pleased to deliver this bumper range of rate cuts across more than 70 products, alongside adding cashback for those looking at higher LTVs; helping more customers manage their borrowing for less and improving affordability for those hoping to secure a home ahead of the April stamp duty changes.”

Meanwhile, TSB will withdraw five-year fixes for first-time buyers and home movers at 90% to 95% LTV.

It tells brokers to submit existing applications for these products by the end of today (12 December).

Highlights of TSB’s reductions include:

• Five-year remortgage fixes up to 75% LTV, down by 15bps

Product Transfer

• Five-year residential fixes up to 75% LTV, down by 10bps

Additional Borrowing

• Five-year residential fixes up to 75% LTV, down by 10bps