It also changes its reversion rate from its follow-on rate to its standard variable rate
High street lender Santander UK has reduced fixed rates on selected residential purchase mortgages, remortgages, buy-to-let, and product transfers by up to 25 basis points (bps).
The rate changes include two-year fixed rate residential purchase mortgages with a £999 product fee – with the 60% loan-to-value (LTV) deal now at 4.99% from 5.14%, the 75% LTV rate now at 5.09% from 5.24%, and the 90% LTV option now priced at 5.61% from 5.70%.
Buy-to-let products that have had their rates reduced include five-year BTL fixed rates for remortgage or purchase with a £1,749 product fee – with the 60% LTV deal now at 4.89% from 5.04%, and the 75% LTV rate now at 5.21% from 5.31%.
Santander has also changed its reversion rate from its follow-on rate to its standard variable rate (SVR) for applications made from today.
Full details on the latest rate reductions made by Santander can be found on its website.
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