Santander for Intermediaries will cut selected residential and buy-to-let (BTL) fixed rates in its new business and product transfer ranges, effective tomorrow (23 May).

Selected new business residential fixes will be reduced by between 0.02% and 0.27% for purchases and remortgages while selected BTL fixes will go down by between 0.04% and 0.020% also for purchases and remortgages.

Meanwhile, in the lender’s product transfer range, selected residential fixes will lower by between 0.03% and 0.14%.

Selected BTL fixes will reduce by between 0.05% and 0.12%.

The lender says there will be no changes to large loan products or residential and BTL tracker rates.