Santander cuts rates across its range

The new products include:

• Two-year fix at 70% LTV for remortgagers, available exclusively to current account customers at 2.69% and £745 fee
• Three-year fix at 75% LTV for homebuyers and remortgagers at 3.85% and no fee
• Four-year fix at 70% LTV for homebuyers and remortgagers at 3.59% and £995 fee
• Five-year fix at 70% LTV for homebuyers and remortgagers at 3.79% and £995 fee
• Five-year fix at 90% LTV available exclusively for first time buyers at 5.99% with a £495 fee

The lender has also reduced rates on a large number of products across its range, including:

• Rate reduced by 0.26% on two-year fix at 60% LTV for homebuyers and remortgagers, now 2.89% with a £495 fee
• Rate reduced by 0.30% on two-year fix at 70% LTV for homebuyers and remortgagers, now 2.69% with a £995 fee
• Rate reduced by 0.10% on two-year tracker at 70% LTV for homebuyers and remortgagers, now 2.89% with no fee
• Rate reduced by 0.05% on two-year tracker at 70% for remortgagers, now 2.44% with a £995 fee
• Rate reduced by 0.20% on two-year fix at 75%% LTV for homebuyers and remortgagers, now 2.99% with a £995 fee
• Rate reduced by 0.14% on two-year fix at 75% LTV for homebuyers, now 3.65% with no fee
• Rate reduced by 1.00% on five-year fix at 75% LTV for homebuyers and remortgagers, now 3.99% with £995 fee

In addition, the lender has also slashed rates on a range of its current account exclusive rates, rewarding existing Santander customers' loyalty:

• Rate reduced by 0.50% on two-year tracker at 70% LTV for remortgagers, now 2.44% with a £745 fee
• Rate reduced by 0.24% on two-year tracker at 75% LTV for remortgagers, now 2.55% with a £745 fee
• Rate reduced by 0.34% on three-year fix at 70% LTV for remortgagers, now 3.35% with a £745 fee

All of the above products come with either the Homebuyer or Remortgage Solution respectively. The Homebuyer Solution offers borrowers the added benefits of a free standard mortgage valuation and £250 cashback on completion, while the Remortgage Solution offers a free standard mortgage valuation, and either free legals or £250 cashback on completion.

Phil Cliff, director of Santander Mortgages, said: "We are continuing to support homebuyers with our new range of competitive products plus extensive reductions on over 40 products across our range. For those borrowers seeking a great rate with the added security of a longer term product we have slashed a number of our five year products by up to 1.00%.

"We understand the challenges faced by homebuyers today and are committed to helping first-time buyers, movers and remortgagers alike. These products signify our continued commitment to supporting the UK housing market with great products."