Santander is reducing all standard residential and selected buy to let fixed rates in its new business and product transfer ranges.

It is also reducing all new build and large loan fixed rates in its new business range. The rate reductions come into effect from 6 September.

All standard residential fixed rates are reducing by between 0.03% and 0.27% for purchases and remortgages.

All new build fixed rates reducing by between 0.06% and 0.25%.

All large loan fixed rates reducing by 0.10% for purchase and remortgages and selected buy to let fixed rates are reducing by between 0.11% and 0.27%.

For product transfers, all residential fixed rates are reducing by between 0.03% and 0.32% and selected buy to let fixed rates are reducing by between 0.10% and 0.23%.

For clients who want to change or cancel their new deal, if they haven’t accepted their product transfer offer yet, brokers can select a new product in the online mortgage transfer service for them and a new offer will be issued.

If client’s have already accepted their new deal, they can change to a different deal or cancel the one that’s already booked for them. This must be done at least 14 days before their new deal starts.