Santander cuts rates again

The new rates are as follows:

• 4-year fix at 4.49% with a £995 fee, available up to 70% LTV available to remortgage (free legals and free valuation) and homebuyer (free valuation and £250 cashback on completion) customers
• 4-year fix at 4.99% with no fee, available up to 75% LTV (homebuyer)
• 4-year fix at 5.29% with no fee, available up to 75% LTV (remortgage)

Santander has also reduced the fee on its 2-year tracker at 4.74% by £500. The product, which is available up to 85% LTV, now has a fee of just £495, reducing the cost even further for borrowers with a smaller deposit.

Phil Cliff, mortgage director for Santander commented: "Our latest rate reductions mean borrowers can take advantage of even more competitive 4-year fixes, ideal for those looking for the peace of mind provided by a longer term fix. Those borrowers wanting the flexibility of a tracker rate and with a smaller deposit, such as first time buyers, can take advantage of the newly reduced fee available on our 2-year tracker."