Santander will cut selected standard residential and landlord fixed-rate offers in its new business range from tomorrow (17 September), with its lowest rates extending the lender’s sub-4% fixes.
The bank says its lowest deals are 60% LTV residential purchase fixes, with a £999 fee, over two years at 3.99%, with three-year deals at 3.94% and five-year offers at 3.80%.
The lender will also introduce a range of other changes, which will see selected product transfer residential and landlord fixes reduced.
All new build fixes will come down.
Also, it will launch buy-to-let two-year tracker rates in its new business and product transfer ranges, while its BTL one-year fix will be withdrawn.
Highlights include:
New business
- Selected standard residential fixed rates reducing by between 2 basis points and 29bps for purchases and remortgages
- All new build fixed rates will be reduced by between 4 bps and 23 bps
- All BTL five-year fixed rates will be reduced by between 5 bps and 9 bps
- New 75% loan to value BTL two-year tracker rates for purchases and remortgages
Product transfers
- Selected residential fixed rates will be reduced by between 4bps and 20bps
- Selected BTL fixed rates will be reduced by between 8bps and 9bps
- New 75% LTV BTL two-year tracker rate
- Withdrawal of 75% LTV BTL one-year fixes
The bank adds that there will be no change to its large loan or standard residential tracker rates in its new business range and no change to our residential tracker rates in our product transfer range.
