Santander UK will introduce more than 50 new mortgage products to its on-sale range, effective 6 May.

The new products include 43 new build specific mortgages with a range of 60% to 95% loan-to-value (LTV), two and five-year fixed rates, as well as two-year tracker rates.

Cashback of £250 is also being introduced for new build products from 85% LTV up to 90% LTV for first-time buyers and 95% LTV for home movers.

In addition, Santander will add three-year fixed rate products and reduce interest rates across existing mortgage products, including its home mover, first-time buyer, remortgage, buy to let and large loans range.

The additional new build fixed products include a 60% LTV two-year fixed rate with a fee of £999 at 3.89% and a 60% LTV five-year fixed rate with a fee of £999 at 3.92%.

For first-time buyers, the lender has introduced a 60% LTV two-year fixed rate with a fee of £999 at 3.94% and a 95% LTV five-year fixed rate with no fee, £250 cashback at 4.99%.

Santander’s tracker new build products include a 60% LTV two-year tracker with a fee of £999 at 4.64% for home movers.

It has also added a first-time buyer 90% two-year tracker rate with no fee at 5.59%.

New three-year fixed rates include the home mover 90% LTV three-year fixed with a fee of £999 with cashback of £250 at 4.75%.

The lender has also introduced a first-time buyer product 85% LTV three-year fixed rate with a fee of £999 and cashback of £250 at 4.75%.

Santander for Intermediaries head Graham Sellar says: “There’s a renewed focus on the new build market spurred on by the Government’s ambition to create 1.5 million new homes, in part through new towns.”

“We’re pleased to bolster our new build offering, alongside new three-year fixes and broad reaching rate reductions, to support our brokers and customers access more options to help them on their homeownership journey.”