Rates on residential remortgage were reduced by up to 0.17% while buy-to-let rates were cut by 0.20%
Santander has announced rate reductions to select buy-to-let and residential remortgage products, effective today, April 19.
Selected residential remortgage rates with no fee were reduced by between 0.13% and 0.17%, while all buy-to-let rates were cut by 0.20%.
For product transfers, all residential lifetime tracker rates were reduced by 0.30%, and buy-to-let products at 75% LTV and under had rates slashed by at least 0.20%, with the 60% LTV five-year fix getting a rate reduction of 0.62% to 4.37% with its fee increased by £250 to £1,749 fee.
Brokers are advised to log on to the lender’s online mortgage transfer service to view rates, or go to its website’s latest mortgage rates page. The lender said that customers could also see how much they could borrow and the rates available to them with the mortgage calculators on Santander’s website.
“We’re pleased to announce our latest commitment to supporting landlords and existing homeowners, providing them with more flexibility and options,” Graham Sellar, head of business development for mortgages at Santander, said.
“Spring and the new tax year is traditionally a period when many landlords are reviewing how they want to manage and grow their portfolios, so we want to provide them with more choice to suit whatever their future portfolio strategies are.”
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