It reduces rates by up to 45 basis points
Santander UK has announced further reductions on fixed rates for select purchase mortgages across different loan-to-value (LTV) options.
For a 60% LTV two-year fixed rate residential purchase mortgage with a £999 product fee, the new rate stands at 4.10%, marking a 45-basis point decrease from the previous 4.55%.
The same product at 75% LTV now carries a rate of 4.15%, down from 4.60%, while the 85% LTV option has a revised rate of 4.52%, a reduction from the prior 4.79%.
Adjustments have also been made to five-year fixed rates, with the 60% LTV residential purchase mortgage with no product fee now priced at 4.14%, down from 4.34%.
The 75% LTV product has arevised rate of 4.19%, previously 4.45%, while the 85% LTV deal now stands at 4.24%, a decrease from the earlier 4.54%.
Detailed information, including the complete list of new rates, is available on the lender’s website.
Last week, the bank announced a reduction in fixed rates for all its mortgage products and additional loans, with cuts ranging from 0.17% to 0.82%.
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